LA Auto Club: Gas Prices Slow Descent for New Year

LOS ANGELES--Dec. 31, 2004--Southern California gas prices continued their downward march during this holiday week, but at a slower pace than earlier this month, 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 $2.037 a gallon, which is 4 cents lower than last week, 22 cents lower than last month and 41.5 cents higher than last year. In San Diego, the price is $2.071, which is 3.3 cents lower than last week, 22 cents below last month and 42 cents above last year. On the Central Coast, the average price is $2.184, which is down 3.1 cents from last week, 22 cents lower than last month and 42 cents higher than last year. In the Inland Empire, the average price is $2.052, which is down 3.2 cents from last week, 22 cents below last month and 44 cents above last year.

"We may see some regional averages dip below $2 per gallon in the next few days, which will be a nice New Year's bonus, but consumers shouldn't expect the downward trend to continue much longer," said Auto Club spokesperson Carol Thorp. "When California refineries begin their changeover to the summer formulation gasoline, prices typically trend upward, and, unfortunately, we don't expect 2005 to be any different."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Dec. 31, 2004.

Area                          Regular  Change from    Record Price
                                        last week

Los Angeles-Long Beach        $2.037   -4.0 cents  $2.446 (10/21/2004)

Orange County                 $2.012   -4.3 cents  $2.441 (10/23/2004)

San Diego                     $2.071   -3.3 cents  $2.464 (10/21/2004)

Santa Barbara-Santa Maria-
 Lompoc                       $2.184   -3.1 cents  $2.570 (10/22/2004)

Riverside-San Bernardino      $2.052   -3.2 cents  $2.461 (10/21/2004)

Bakersfield                   $2.034   -5.4 cents  $2.437 (10/23/2004)

Las Vegas                     $1.891   -2.2 cents  $2.290 (10/20/2004)