LA Auto Club: Third Straight Week of Small Declines

LOS ANGELES--May 6, 2005--Gasoline prices continued their downward movement across the region, though declines were still very small in most areas, 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 $2.581, which is 2.2 cents lower than last week, 11 cents higher than last month and 42 cents higher than last year. In San Diego, the price is $2.581, which is 1.7 cents lower than last week, 10 cents above last month and 40 cents above last year. On the Central Coast, the average price is $2.709, down 2.1 cents from last week, 13 cents higher than last month and 43 cents higher than last year. In the Inland Empire, the average price is $2.603, down 1.9 cents from last week, 10 cents above last month and 41 cents above last year.

"Falling crude oil prices and growing national inventories of gasoline and oil are helping push down our local gas prices," said Auto Club spokesperson Carol Thorp. "Motorists can look forward to a continuing trend of slowly declining prices at the pumps for the next few weeks."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., May 6, 2005:

Area                       Regular    Change from      Record Price
                                       last week

Los Angeles-Long Beach      $2.581     -2.2 cents   $2.625 (4/13/2005)

Orange County               $2.566     -1.6 cents   $2.605 (4/21/2005)

San Diego                   $2.581     -1.7 cents   $2.626 (4/12/2005)

Santa Barbara-Santa Maria-
 Lompoc                     $2.709     -2.1 cents   $2.730 (4/29/2005)

Riverside-San Bernardino    $2.603     -1.9 cents   $2.649 (4/13/2005)

Bakersfield                 $2.610     -4.5 cents   $2.682 (4/22/2005)

Las Vegas                   $2.469     -4.4 cents   $2.534 (4/14/2005)