Southern California Sees Current Gasoline Price Closer to $4

With an average of at least $4 per gallon in gasoline prices, drivers should be able to easily find stations having its current gasoline price at $3.90 per gallon and even a few below $3.80, said a spokesman of an Auto Club.

According to Southern California’s Automobile Club, drivers in the area got another two-digit fall in gasoline prices over the past week, which has left the average price closer to $4 per gallon with several stations offering significantly lower gasoline costs.

Based on a survey of the AAA, the latest average gasoline price of self serve regular gas in the Long Beach area was $4.057 per gallon. That price is lower by 12.6 cents versus last week and 33 cents versus last month. Despite the decline, that rate is still higher by 10 cents compared to the same period last year.

The average gasoline price in the Orange County was $4.008 per gallon. That is lower by 13.2 cents and 36.4 cents versus last week and last month, respectively, but higher by 8.2 cents versus last year.

Inland Empire’s $4.02 per gallon average gasoline price is down by 14.1 cents compared to last week, 32.1 cents relative to last month and higher by 10 cents versus last year.

In U.S. trading, per barrel oil prices increased following the OPEC’s announcement that it will maintain its production quota of 30 million barrels daily. In the NYMEX, the per barrel oil price of U.S. benchmark crude grew by $1.29 to end at $83.91. Brent crude price rose by 45 cents to $9.17 per barrel in London.

By: Chris Termeer