LA Auto Club:Gas Prices Continue Downward; California Bucks National Trend

    LOS ANGELES--Sept. 20, 2002--Gasoline prices inched lower in Southern California last week, bucking a national trend of increasing prices caused by war fears, according to the Weekend Gas Watch compiled by the Automobile Club of Southern California.
    The Weekend Gas Watch monitors the average price of gasoline at popular destinations for motoring trips.
    Currently, the average price of self-serve regular unleaded gasoline in the Los Angeles-Long Beach area is $1.617 per gallon, which is nine-tenths of a cent lower than last week's price, 1 cent higher than last month and the same as the price last year.
    In San Diego the price is $1.660, which is 1 cent lower than last week's level, 2 cents higher than last month and 7 cents lower than last year. Motorists in the central coast have an average price of $1.705, which is nine-tenths of a cent below last week's price, 1 cent lower than last month and 4 cents below the price last year.
    "Retail gasoline profit margins are very slim in Southern California. It appears that retailers are lowering prices in order to gain market share," said Carol Thorp, Auto Club spokesperson. "In general, worldwide oil and gasoline markets are volatile because of war jitters. But the fundamentals point to lower demand with ample supply, which normally should give motorists lower prices."

Average prices as of 12:01 a.m., Sept. 20:

Area                        Regular    Change from    Record Price
                                        last week

Los Angeles-Long Beach      $1.617      -0.9 cents    $2.036 (5/25/01)

San Diego                   $1.660      -1.0 cents    $2.025 (5/29/01)

Santa Barbara-Santa Maria-
Lompoc                      $1.705      -0.9 cents    $2.069 (5/16/01)

Las Vegas                   $1.481      -0.5 cents    $1.885 (3/27/00)

Phoenix-Mesa, Ariz.         $1.418      +0.1 cents    $1.720 (5/30/01)