Auto Club: Gasoline Prices Crest -- Conditions Right for Downward Trend.Energy Editors/News Editors/Business Editors/Travel Writers LOS LOS Length of stay, see there ANGELES--(BUSINESS WIRE)--June 4, 2004 After two months of increases during which retail 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 soared 24 cents per gallon, a plateau plateau, elevated, level or nearly level portion of the earth's surface, larger in summit area than a mountain and bounded on at least one side by steep slopes, occurring on land or in oceans. appears to have been reached and indicators point to lower prices in the coming weeks, 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 Club of Southern California's Weekend Gas Watch. The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $2.365 a gallon, which is two-tenths of a cent lower than last week, 20 cents higher than last month and 62 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 $2.365, which is four-tenths of a cent below last week, 19 cents higher than last month and 65 cents above last year. Motorists in the Central Coast pay an average price of $2.487, which is unchanged from last week, 19 cents above last month and 61 cents higher than last year. "Growing inventories and pledges by OPEC OPEC: see Organization of Petroleum Exporting Countries. OPEC in full Organization of the Petroleum Exporting Countries Multinational organization established in 1960 to coordinate the petroleum production and export policies of its to increase production have sent wholesale gasoline prices to $1.50 per gallon on the Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. spot market. Two weeks ago they were about 20 cents per gallon higher," said Auto Club spokesperson, Carol Thorp. "While retail price declines last week were tiny, we expect downward pressure to increase. Prices at this time next month could be several cents per gallon lower than they are currently." The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., June 4.
Area Regular Change from Record Price
last week
Los Angeles - Long Beach $2.365 -0.2 cents $2.368 (5/28/2004)
Orange County $2.348 -0.2 cents $2.353 (6/01/2004)
San Diego $2.365 -0.4 cents $2.373 (5/26/2004)
Santa Barbara-Santa Maria-
Lompoc $2.487 0.0 cents $2.489 (5/29/2004)
Riverside - San Bernardino $2.392 -0.1 cents $2.399 (6/01/2004)
Bakersfield $2.382 0.0 cents $2.383 (6/01/2004)
Las Vegas $2.276 -0.2 cents $2.279 (5/26/2004)
|
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion