Auto Club: Gasoline Prices Dip for Fourth Consecutive Week

LOS ANGELES--Sept. 26, 2003--Gasoline prices declined moderately throughout the Southwest for the fourth straight week as retailers continued taking profits, 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 $2.010 per gallon, which is 5.4 cents lower than last week, 6 cents lower than last month and 41 cents higher than last year. In San Diego, the price is $2.019, which is 6.4 cents below last week's level, 9 cents below last month and 37 cents higher than last year. Motorists in the central coast pay an average price of $2.109, which is 5.6 cents lower than last week's price, 4 cents below last month and 41 cents higher than last year.

"The retail price of gasoline has been going down steadily in the past month, however, at the wholesale level the price declines have been much steeper," said Carol Thorp, Auto Club spokesperson. "This is allowing retailers to take profits of approximately 41 cents per gallon in Los Angeles, 37 cents per gallon in San Diego and 53 cents per gallon in the Santa Barbara area. Generally, a retail profit margin of about 10 cents per gallon is considered healthy."

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. 26:

Area                    Regular   Change from last week  Record Price

Los Angeles-Long Beach   $2.010      -5.4 cents       $2.167 (3/22/03)

San Diego                $2.019      -6.4 cents       $2.211 (3/20/03)

Santa Barbara-
Santa Maria-
Lompoc                   $2.109      -5.6 cents       $2.233 (8/27/03)

Las Vegas                $1.818      -5.5 cents       $2.063 (3/25/03)

Phoenix                  $1.902      -5.7 cents       $2.146 (8/26/03)