Auto Club: Gas Prices May Be Peaking
LOS ANGELES - Southern California gas price averages stabilized in the last week, remaining within a penny of levels they reached last week and about 15 cents shy of the record high prices achieved last May, according to the Automobile Club of Southern California’s Weekend Gas Watch.
The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $3.261, which is one-tenth of one cent higher than last week, 20 cents higher than last month, and 37 cents higher than last year. In San Diego, the price is $3.295, which is four-tenths of a cent above last week’s price, 22 cents above last month, and 39 cents above last year. On the Central Coast, the average price is $3.375, up 1 cent from last week, 19 cents above last month, and 39 cents higher than last year. In the Inland Empire, the average price is $3.290, three-tenths of a cent above last week, 22 cents higher than last month, and 37 cents higher than last year.
“Wholesale gasoline prices in California started going down more than two weeks ago, and that decrease may have finally started trickling down to affect gas station prices,” said Auto Club spokesperson Carol Thorp. “Oil industry analysts say that’s because more refineries in the state now are increasing their output.”
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