Auto Club: Gasoline Prices Drop Below $4 in Many Regions

By Staff Reports

(Victor Valley)– With many Southern California refineries increasing production and shiploads of imported gasoline product hitting California shores in recent days, retail gasoline prices continue to decline, with many averages falling below $4 per gallon, according to the Automobile Club of Southern California’s Weekend Gas Watch. The retail statewide average is $3.98 a gallon for regular unleaded, which is four cents lower than last week.

The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $3.97 per gallon, which is four cents lower than last week, 16 cents lower than last month, and 20 cents higher than last year. In San Diego, the average price is $3.95, which is four cents below last Thursday, 13 cents below last month, and 19 cents higher than this time last year. On the Central Coast, the average price is $4.04, which is five cents less than last week, 10 cents lower than last month, and 23 cents higher than last year. In Riverside, the average per-gallon price is $3.91, which is five cents lower than last week, 15 cents lower than last month, and 21 cents higher than last year. In San Bernardino, the $3.94 average price is four cents lower than last week, 12 cents lower than last month, and 22 cents higher than a year ago today.

“Our sources say that California reformulated gasoline stocks increased by 21 percent last week compared to the prior week,” said Auto Club spokesman Jeffrey Spring. “While refineries increased production, most of the jump came from imported gasoline.  Barring any new refinery issues, we expect to see retail prices continue to decline in the next few weeks which will benefit summer travelers and commuters.”

The Weekend Gas Watch monitors the average price of gasoline. As of 9 a.m. on May 30, averages are:

Area

Regular

 1-week change

Record Price

Los Angeles – Long Beach

$3.97

 -4 cents

 $4.70 (10/9/12)

       
Orange County

$3.93

 -5 cents

 $4.69 (10/8/12)

       
San Diego

$3.95

 -4 cents

 $4.72 (10/8/12)

       
Santa Barbara – Santa Maria –Lompoc

$4.04

 -5 cents

 $4.70 (6/21/08)

 
Riverside

$3.91

 -5 cents

$4.68 (10/8/12)

 

 

San Bernardino

$3.94

 -4 cents

 $4.68 (10/8/12)

 

 

Ventura

$3.98

 -5 cents

 $4.68 (10/7/12)

 

 

Bakersfield

$4.03

 -4 cents

 $4.64 (10/9/12)

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