Auto Club: Gasoline Prices Spike on Thin Supply Margin.News Editors/Lifestyle Editors/Transportation Writers LOS LOS Length of stay, see there ANGELES--(BUSINESS WIRE)--April 9, 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 jumped higher last week as consumer demand remained strong while inventories and refinery production declined. However, statewide production is now back to capacity and wholesale gas prices have declined sharply as a result, indicating retail prices could level off in the 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 is $1.771, an increase of 2 cents from last week, but down from the record high of $1.773 set on Wednesday Wednesday: see week. . Currently, the average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $2.216, which is a new record high and 8.9 cents higher than last week. This price is 2 cents higher than last month and 7 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 $2.223, which is a new record high, 8 cents above last week, six-tenths of a cent higher than last month and 4 cents above last year. Motorists in the Central Coast pay an average price of $2.286, which is a new record high, 6.7 cents higher than last week, 1 cent above last month and 11 cents higher than last year. "In the past week, California's gasoline refineries have been producing at capacity and that has pushed wholesale gasoline prices down from a high of $1.68 per gallon gallon: see English units of measurement. to around $1.37 per gallon," said Auto (AUTOmatic) Refers to a wide variety of devices that perform unattended operations. Club spokesperson Carol Thorp. "Inventories still are thinner than we're we're Contraction of we are. we're we are used to. If there are no refinery problems, inventories should build and we could see retail prices level off." The Weekend Gas Watch monitors the average price of gasoline at metropolitan destinations throughout the nation. Average prices as of 12:01 a.m., April 9:
Area Regular Change From Record Price
Last Week
Los Angeles-Long Beach $2.216 +8.9 cents $2.216 (4/9/2004)
San Diego $2.223 +8.0 cents $2.223 (4/9/2004)
Santa Barbara-Santa Maria-
Lompoc $2.286 +6.7 cents $2.286 (4/9/2004)
The national average price of gasoline rose 2 cents last week. The price of $1.771 is down from the record high price of $1.773 set on Wednesday. Refineries in many states are going through the last weeks of turnaround Turnaround A situation where a company that has had poor performance for an extended period of time experiences a positive reversal. Notes: A speculator may profit from a turnaround if he or she accurately anticipates the improvement of a poorly performing company. , when they conduct maintenance and begin producing special blends Special Blend is a morning radio show airing weekdays from 7 AM to 10 AM on the community-based campus radio station CKCU-FM in Ottawa, Canada. The show is entirely produced by volunteers; each of the 15 weekly programming hours is hosted by a different volunteer, with of gasoline to meet clean air requirements during the summer months.
Area Regular Change From Record Price
Last Week
National Average $1.771 +2.0 cents $1.773 (4/7/2004)
New York $1.931 +0.3 cents $1.968 (9/6/2003)
Washington $1.797 +1.5 cents $1.797 (4/9/2004)
Boston $1.738 -0.1 cents $1.812 (9/3/2003)
Philadelphia $1.761 0.0 cents $1.807 (9/3/2003)
Atlanta $1.659 +3.3 cents $1.666 (4/6/2004)
Miami $1.815 +0.8 cents $1.820 (4/6/2004)
Chicago $1.871 +1.3 cents $2.142 (6/19/2000)
Detroit $1.750 0.0 cents $2.137 (6/20/2000)
Kansas City, MO $1.609 -2.5 cents $1.790 (6/21/2000)
St. Louis $1.601 -7.8 cents $1.767 (5/17/2001)
Denver $1.743 -0.7 cents $1.780 (6/5/2001)
Dallas $1.672 +2.0 cents $1.673 (4/6/2004)
Houston $1.647 +1.6 cents $1.649 (4/7/2004)
Salt Lake City $1.812 +1.5 cents $1.812 (4/9/2004)
Las Vegas $2.108 +2.0 cents $2.108 (4/9/2004)
Phoenix $2.013 +7.0 cents $2.146 (8/26/2003)
Seattle $1.881 +4.6 cents $1.969 (9/4/2003)
San Francisco $2.268 +5.7 cents $2.276 (3/19/2003)
Honolulu $2.054 +1.5 cents $2.055 (4/7/2004)
|
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion