Auto Club: Gas Price Freefall Continues

LOS ANGELES--Nov. 11, 2005--Gasoline prices tumbled this week as ample supply and low seasonal demand combined to relieve motorists who endured record high prices just two months ago, 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 $2.669, which is 8.9 cents lower than last week, 31 cents lower than last month and 29 cents higher than last year. In San Diego, the price is $2.697 -- 7.1 cents below last week's price, 32 cents below last month and 29 cents above last year. On the Central Coast, the average price is $2.765, down 10.2 cents from last week, 29 cents lower than last month and 26 cents higher than last year. In the Inland Empire, the average price is $2.685, down 8.7 cents from last week, 31 cents below last month and 28 cents higher than last year.

"Motorists have experienced significant relief during the past month with pump prices falling about 30 cents per gallon," Auto Club spokeswoman Carol Thorp said. "As long as supplies remain strong, motorists can expect this lower price trend to continue for at least the next couple of weeks."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Nov. 11, 2005:

Area                   Regular  Change from last week   Record Price
Los Angeles-Long Beach $2.669        -8.9 cents      $2.999 (9/6/2005)

Orange County          $2.614        -8.1 cents      $2.970 (9/6/2005)

San Diego              $2.697        -7.1 cents      $3.060 (9/5/2005)

Santa Barbara-Santa
 Maria-Lompoc          $2.765       -10.2 cents      $3.111 (9/7/2005)

Riverside-San          
 Bernardino            $2.685        -8.7 cents      $3.030 (9/9/2005)

Bakersfield            $2.665        -9.6 cents      $3.167 (9/9/2005)

Las Vegas              $2.524        -5.2 cents      $2.968 (9/8/2005)