Motorists Get a Breather as Gas Prices Pause Following Six Weeks of Increases
LOS ANGELES--Feb. 17, 2006--Gas prices fell this week, giving motorists a relief from a trend of higher gasoline prices that lasted six weeks, 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 $2.570, which is 3.6 cents lower than last week, 12 cents higher than last month and 44 cents higher than last year. In San Diego, the price is $2.575 -- 3.7 cents below last week's price, 8 cents above last month and 44 cents above last year. On the Central Coast, the average price is $2.706, down 3.2 cents from last week, 12 cents higher than last month and 45 cents higher than last year. In the Inland Empire, the average price is $2.584, down 4 cents from last week, 11 cents above last month and 45 cents higher than last year.
"Gasoline prices are falling because refineries are flooding the market with their remaining inventories of winter-grade fuel, which happens every year at this time," said Auto Club spokesperson Carol Thorp. "The slight downward trend should continue for a couple of weeks. Refineries begin shipping summer-grade fuel on March 1st. After then, motorists can expect to see prices turn upward again."
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Feb. 17, 2006:
Area Regular Change from Record Price
last week
Los Angeles-Long Beach $2.570 -3.6 cents $2.999 (9/6/2005)
Orange County $2.533 -3.2 cents $2.970 (9/6/2005)
San Diego $2.575 -3.7 cents $3.060 (9/5/2005)
Santa Barbara-Santa Maria-
Lompoc $2.706 -3.2 cents $3.111 (9/7/2005)
Riverside-San Bernardino $2.584 -4.0 cents $3.030 (9/9/2005)
Bakersfield $2.570 -4.8 cents $3.167 (9/9/2005)
Las Vegas $2.449 -2.6 cents $2.968 (9/8/2005)
