Gas Price Declines Slow Down After Demand Increases

By Staff Reports

(Victor Valley)– The average price of gasoline continued to decline last week but at a slower pace in the face of a large draw from gasoline inventories nationally, according to the Automobile Club of Southern California’s Weekend Gas Watch. Today’s retail statewide average is $2.75 a gallon for regular unleaded, which is three cents less than last week and $1.34 less than last year.

The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $2.83 per gallon, which is three cents lower than last week, 29 cents lower than a month ago, and $1.29 cents lower than last year. In San Diego, the average price is $2.79, which is two cents lower than last Thursday, 31 cents less than last month, and $1.30 cents lower than last year.

On the Central Coast, the average price dropped to $2.93, which is unchanged compared to last week, 31 cents lower than last month, and $1.22 cents lower than last year. In Riverside, the average per-gallon price is $2.66, which is four cents lower than last week, 34 cents lower than last month, and $1.40 cents lower than last year. In San Bernardino, the $2.73 average price is five cents less than last week, 33 cents lower than last month, and $1.33 cents lower than a year ago today.

“The Energy Information Administration noted that gasoline inventories dropped by a significant 3.7 million gallons in the past week, which means there is more driving occurring than in prior weeks,” said Auto Club spokesman Jeffrey Spring. “Prices are still declining, but if demand continues at this higher pace, we may be nearing the bottom of the price curve.”

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

WEGW CA Apr 30 chart

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