LOS ANGELES, CA -- (MARKET WIRE) -- May 4, 2007 -- Gas prices broke records throughout most of Southern California this week, zooming up suddenly on news of more refinery supply problems, 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 $3.420, which is 9.4 cents higher than last week, 16 cents higher than last month, and 11 cents higher than last year. In San Diego, the price is $3.442, which is 9.3 cents above last week's price, 15 cents above last month, and 11 cents above last year. On the Central Coast, the average price is $3.534, up 8.1 cents from last week, 17 cents above last month, and 14 cents higher than last year. In the Inland Empire, the average price is $3.422, 7.7 cents above last week, 13 cents higher than last month, and 7 cents higher than last year.
"This is the fourth year in a row that gas prices have set new record highs in May," said Auto Club spokesperson Carol Thorp. "About the only comfort that motorists can take from history is that prices generally have dropped every summer after reaching their record prices in May."
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., May 4:
Area Regular One-week change Record Price Los Angeles - Long Beach $3.420 +9.4 cents $3.420 (5/3/2007) Orange County $3.420 +10.8 cents $3.420 (5/3/2007) San Diego $3.442 +9.3 cents $3.442 (5/3/2007) Santa Barbara - Santa Maria - Lompoc $3.534 +8.1 cents $3.534 (5/3/2007) Riverside - San Bernardino $3.422 +7.7 cents $3.445 (5/15/2006) Bakersfield $3.416 +6.6 cents $3.450 (5/16/2006) Las Vegas, NV $3.121 +5.4 cents $3.176 (5/17/2006)
Contact Information: Contact: Carol Thorp (714) 885-2333