LA Auto Club: New Record-High Gas Prices Set Statewide

LOS ANGELES--April 8, 2005--Double-digit increases in week-to-week gasoline prices have resulted in new record highs throughout the state, according to the Automobile Club of Southern California's Weekend Gas Watch. Record-high crude oil futures will add upward pressure to local gas prices during the next two weeks.

The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $2.541, which is 10.6 cents higher than last week, 29 cents higher than last month and 35 cents higher than last year. In San Diego, the price is $2.543, which is 11.5 cents higher than last week, 29 cents above last month and 34 cents above last year. On the Central Coast, the average price is $2.626, up 8.9 cents from last week, 27 cents higher than last month and 36 cents higher than last year. In the Inland Empire, the average price is a new record high of $2.570, up 10.9 cents from last week, 29 cents above last month and 35 cents above last year.

"Even though California and the nation have ample supplies of oil and gasoline to meet demand, the main factor affecting gas prices is the high cost of crude," said Auto Club spokesperson Carol Thorp. "Motorists can expect pump prices to continue rising for at least the next couple of weeks."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., April 8:

Area                          Regular  Change from     Record Price
                                        last week

Los Angeles-Long Beach         $2.541  +10.6 cents  $2.541 (4/07/2005)

Orange County                  $2.527   +9.9 cents  $2.527 (4/07/2005)

San Diego                      $2.543  +11.5 cents  $2.543 (4/07/2005)

Santa Barbara-Santa Maria-
 Lompoc                        $2.626   +8.9 cents  $2.626 (4/07/2005)

Riverside-San Bernardino       $2.570  +10.9 cents  $2.570 (4/07/2005)

Bakersfield                    $2.617  +14.8 cents  $2.617 (4/07/2005)

Las Vegas                      $2.447   +6.7 cents  $2.447 (4/07/2005)