Auto Club: Tumbling Gas Prices Continue Downward Slide

    LOS ANGELES--Oct. 19, 2001--Gasoline prices declined for the fifth consecutive week, throughout Southern California, giving motorists prices that are more than 25 cents lower than last year's levels, according to the Automobile Club of Southern California's Weekend Gas Watch.
    Currently, the average price of self-serve regular unleaded in the Los Angeles/Long Beach reporting area is $1.472. That is 25.7 cents per gallon lower than the price at this time last year of $1.729. Market indicators point to conditions that will encourage downward price momentum for at least the next couple of weeks.
    The current average price in Los Angeles/Long Beach is 4.7 cents lower than the price at this time last week. The price in San Diego is 3.8 cents lower than last week's average. The price for Central Coast motorists is 2.6 cents lower than last week. The Weekend Gas Watch monitors the average price of gasoline at popular destinations for motoring trips.
    "Despite efforts by refiners to slow production of gasoline in attempts to stabilize prices, the demand for motor vehicle fuel continues to decline, leading to lower prices," said Jeffrey Spring, Auto Club spokesman.
    "With prices so much lower than last year's levels, consumers might consider taking advantage of some of the travel bargains that are out there and enjoy many of the great attractions while supporting the economy."

Average prices as of 6 a.m. Oct. 19.

Area                             Regular Change from  Record Price
                                          last week

Los Angeles-Long Beach           $1.472  -4.7 cents   $2.036 (set 5/25)

San Diego                        $1.621  -3.8 cents   $2.025 (5/29)

Santa Barbara-Santa Maria-Lompoc $1.623  -2.6 cents   $2.069 (5/16)

Las Vegas                        $1.437  -2.5 cents   $1.885 (3/27/00)

Phoenix-Mesa, Ariz.              $1.349  -2.7 cents   $1.720 (5/30)