Auto Club: Gas Prices Continue on a Slow Downward Slide

LOS ANGELES--Sept. 12, 2003--Gasoline prices in Southern California declined for the second week in a row, but prices in most areas still are significantly above $2 per gallon, according to the Automobile Club of Southern California's Weekend Gas Watch.

Currently, the average price of self-serve regular unleaded gasoline in the Los Angeles-Long Beach area is $2.109 per gallon, which is 2 cents lower than last week, 42 cents higher than last month and 49 cents higher than last year. In San Diego, the price is $2.134, which is 3.7 cents below last week's level, 42 cents higher than last month and 47 cents higher than last year. Motorists in the Central Coast pay an average price of $2.204, which is 2.4 cents lower than last week's price, 41 cents higher than last month and 51 cents higher than last year.

"We're expecting the decline in gasoline prices to accelerate over the next few weeks as the marketplace recovers from the dramatic run-up of prices in August," said Carol Thorp, Auto Club spokesperson. "Prices on the California wholesale and spot markets are the lowest in the country, which means our pump prices will go lower."

The Weekend Gas Watch monitors the average price of gasoline at popular destinations for motoring trips. Average prices as of 12:01 a.m., Sept. 12:

Area                     Regular     Change from      Record Price
                                      last week       

Los Angeles-Long Beach   $2.109      -2.0 cents       $2.167 (3/22/03)

San Diego                $2.134      -3.7 cents       $2.211 (3/20/03)

Santa Barbara-
Santa Maria-Lompoc       $2.204      -2.4 cents       $2.233 (8/27/03)

Las Vegas                $1.916      -4.3 cents       $2.063 (3/25/03)

Phoenix                  $2.012      -6.9 cents       $2.146 (8/26/03)