Auto Club: Gasoline Prices Drop for 11 Straight Weeks

    LOS ANGELES--June 6, 2003--Prices at the gas pump fell throughout the Southwest for the 11th consecutive week, according to the Weekend Gas Watch, compiled by the Automobile Club of Southern California.
    Currently, the average price of self-serve regular unleaded gasoline in the Los Angeles-Long Beach area is $1.738 per gallon, which is 4 cents lower than last week's price, 22.5 cents lower than last month and 16 cents higher than last year.
    In San Diego the price is $1.701, which is 3.3 cents below last week's level, 27 cents below last month and 10.5 cents above last year. Motorists in the central coast have an average price of $1.870, which is 2.9 cents lower than last week's price, 15.9 cents lower than last month and 20.6 cents higher than last year.
    "We've seen nearly three months of slowly falling prices and that trend should continue for the short term," said Carol Thorp, spokesperson for the Automobile Club of Southern California.
    "Crude oil and gasoline inventories have increased significantly in recent days which relieves some analyst concerns over potential supply problems. However, crude oil prices have climbed back to $30 per barrel range and this could affect retail prices later in the summer."
    The Weekend Gas Watch monitors the average price of gasoline at popular destinations for motoring trips. Average prices as of 12:01 a.m., June 6:

Area                         Regular    Change from    Record Price
                                         last week

Los Angeles-Long Beach       $1.738     -4.0 cents    $2.167 (3/22/03)

San Diego                    $1.701     -3.3 cents    $2.211 (3/20/03)

Santa Barbara-Santa Maria-
Lompoc                       $1.870     -2.9 cents    $2.207 (3/22/03)

Las Vegas                    $1.681     -3.2 cents    $2.063 (3/25/03)

Phoenix-Mesa, Ariz.          $1.616     -3.9 cents    $2.003 (3/22/03)