Southern California Gas Prices Moving Sideways

Southern California’s second consecutive week of gas price increases have pushed the current gasoline prices to almost the same level as both the past month and the previous year, said the local Automobile Club in its Weekend Gas Watch this week.

The increase has occurred as the oil price per barrel in the United States has regained around $12 from its lowest level this year of below $78 per barrel, seen in the latter parts of June. In the NYMEX, the oil price per barrel today gained 48 cents to $89.45.

Jeffrey Spring, the spokesman of the Auto Club, said that with the current oil prices staying within $90 per barrel, a little upward push was still present on last week’s gasoline prices. But, California’s current gasoline prices have only lowered a bit or stayed the same, that is why it is difficult to know what will happen in the coming week, added Spring.

Self-serve regular’s average gas price today in the Los-Angeles and Long-Beach area is higher by 6.3 cents to $3.830 a gallon. That price is also higher by 0.40 cent compared to the past month and a penny versus the past year.

The average gas price today in the Inland Empire is higher by 7.1 cents compared to the past week at $3.786, but lower versus the previous month and the past year by 1.3 cents and 1 cent, respectively.

The average gasoline price of $3.862 per gallon on the Central Coast is higher by 4.9 cents compared to the previous week and lower by 1.6 cents versus last month and 0.30 cent than the past year.

In the San Diego area, the per gallon gasoline price of $3.810 is higher by 6.6 cents compared to the past week and 0.50 cent versus the past month. However, it is lower by a penny than the previous year.

By: Chris Termeer