LA Auto Club: Gas Prices Set New Records

LOS ANGELES--Oct. 22, 2004--Gasoline prices continued soaring last week with every reporting region setting new record-high levels, 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 $2.446 a gallon, which is 8.9 cents higher than last week, 37 cents higher than last month and 64 cents above last year. In San Diego, the price is $2.464, which is 7.3 cents higher than last week, 35 cents above last month and 68 cents higher than last year. On the Central Coast, the average price is $2.567, which is up 6.8 cents from last week, 32 cents higher than last month and 68 cents higher than last year. In the Inland Empire, the average price is $2.461, which is up 7.4 cents from last week, 36 cents above last month and 69 cents above last year.

"The run-up in gasoline prices continued, but at a slower pace than the prior week, which indicates that we may be near a peak," said Auto Club spokesperson Carol Thorp. "Wholesale prices dropped in Los Angeles this week, and if that continues as a trend, then we should see some relief at the pumps in coming weeks."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Oct. 21, 2004.

Area                       Regular   Change from      Record Price
                                      last week

Los Angeles-Long Beach      $2.446    +8.9 cents   $2.446 (10/21/2004)

Orange County               $2.439    +7.9 cents   $2.439 (10/21/2004)

San Diego                   $2.464    +7.3 cents   $2.464 (10/21/2004)

Santa Barbara-Santa Maria-
  Lompoc                    $2.567    +6.8 cents   $2.567 (10/21/2004)

Riverside-San Bernardino    $2.461    +7.4 cents   $2.461 (10/21/2004)

Bakersfield                 $2.434    +6.7 cents   $2.434 (10/21/2004)

Las Vegas                   $2.289    +4.8 cents   $2.290 (10/20/2004)