Auto Club: Gas Prices Continue Sharp Upward Trend; Relief May Be on the Horizon.News Editors/Lifestyle Editors/Automotive Writers LOS LOS Length of stay, see there ANGELES--(BUSINESS WIRE)--Jan. 16, 2004 Reflecting rising wholesale prices for the first two weeks of 2004, gasoline gasoline or petrol, light, volatile mixture of hydrocarbons for use in the internal-combustion engine and as an organic solvent, obtained primarily by fractional distillation and "cracking" of petroleum, but also obtained from natural gas, by prices at the retail pump continued higher across Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, last week, rising 6.1 cents per gallon gallon: see English units of measurement. in the L.A.-Long Beach area. But a sharp decline in the wholesale market Thursday Thursday: see week. could point to lower prices next week, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Automobile automobile, self-propelled vehicle used for travel on land. The term is commonly applied to a four-wheeled vehicle designed to carry two to six passengers and a limited amount of cargo, as contrasted with a truck, which is designed primarily for the transportation of Club of Southern California's Weekend Gas Watch. The national average for gasoline increased by 5.5 cents per gallon last week. Currently, the average price of self-serve regular unleaded gasoline in the Los Angeles-Long Beach area is $1.734, which is 6.1 cents higher than last week. This price is 5 cents higher than last month and 11 cents higher than last year. In San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , the price is $1.735, which is 3.8 cents above last week's level, 3 cents above last month and 5 cents higher than last year. Motorists in the Central Coast pay an average price of $1.825, which is 4.1 cents higher than last week's price, 4 cents above last month and 14 cents higher than last year. "The wholesale price of gasoline dipped dip v. dipped, dip·ping, dips v.tr. 1. To plunge briefly into a liquid, as in order to wet, coat, or saturate. 2. by about 6 cents per gallon Thursday," said Carol Thorp, Auto (AUTOmatic) Refers to a wide variety of devices that perform unattended operations. Club spokesperson. "Barring any bounce 1. bounce - (Perhaps by analogy to a bouncing check) An electronic mail message that is undeliverable and returns an error notification (a "bounce message") to the sender is said to "bounce". 2. bounce - To play volleyball. The now-demolished D. C. in wholesale prices, the outlook for the next three weeks is for stable to declining retail prices." The Weekend Gas Watch monitors the average price of gasoline at metropolitan destinations throughout the nation. Average prices as of 12:01 a.m., Jan. 16:
Area Regular Change Record Price
from
last
week
Los Angeles-Long Beach $1.734 +$0.061 $2.167 (3/22/03)
San Diego $1.735 +$0.038 $2.211 (3/20/03)
Santa Barbara-Santa Maria-Lompoc $1.825 +$0.041 $2.233 (8/27/03)
The national average price of gasoline jumped sharply for the
second straight week, on twin reasons of higher crude oil prices and
fears of refiners' ability to meet demand. However, gasoline
inventories have been growing, principally in California and other
western states. Increasing inventories helped send wholesale prices
lower on Thursday. The short-term outlook is for retail prices to
stabilize over the next week and begin moving lower over the next
three weeks.
Area Regular Change Record Price
from
last
week
National Average $1.581 +$0.055 $1.737 (8/30/03)
New York $1.779 +$0.027 $1.968 (9/6/03)
Washington, D.C. $1.628 +$0.032 $1.797 (5/16/01)
Boston $1.603 +$0.051 $1.812 (9/3/03)
Philadelphia $1.584 +$0.044 $1.807 (9/3/03)
Atlanta $1.508 +$0.090 $1.589 (3/18/03)
Miami $1.644 +$0.079 $1.761 (3/18/03)
Chicago $1.669 +$0.047 $2.142 (6/19/00)
Detroit $1.592 +$0.062 $2.137 (6/20/00)
Kansas City, Mo. $1.483 +$0.046 $1.790 (6/21/00)
St. Louis $1.597 +$0.104 $1.767 (5/17/01)
Denver $1.470 +$0.059 $1.780 (6/5/01)
Dallas $1.513 +$0.058 $1.666 (5/12/01)
Houston $1.499 +$0.063 $1.639 (5/12/01)
Salt Lake City $1.541 +$0.048 $1.789 (9/4/03)
Las Vegas $1.676 +$0.042 $2.063 (3/25/03)
Phoenix $1.569 +$0.042 $2.146 (8/26/03)
Seattle $1.629 +$0.076 $1.969 (9/4/03)
San Francisco $1.823 +$0.033 $2.276 (3/19/03)
Honolulu $1.999 -$0.007 $2.054 (10/2/03)
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