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Auto Club: Memorial Day Weekend Sees New Record High Gasoline Prices but Relief May Be in Sight.


News Editors/Business Editors/Automotive Writers/Travel Writers

LOS ANGELES--(BUSINESS WIRE)--May 28, 2004

Motorists hitting the road this Memorial Day weekend, the traditional beginning of the summer driving season, will pay record high prices at many destinations, 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 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  in the Los Angeles-Long Beach area is $2.367 a gallon, which is 4.8 cents higher than last week, 19 cents higher than last month and 58 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 $2.369, which is 2.8 cents above last week, 18 cents higher than last month and 62 cents above last year. Motorists in the Central Coast pay an average price of $2.487, which is 5.3 cents higher than last week, 19 cents above last month and 59 cents higher than last year.

"Gas prices are as high as they have ever been at many places in 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, , but there could be a silver lining silver lining
n.
A hopeful or comforting prospect in the midst of difficulty.



[From the proverb "Every cloud has a silver lining".
 in this cloud," said Auto Club spokesperson, Carol Thorp. "In recent days, we've observed prices rising much more slowly. Pump prices may be near 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. , and conditions indicate there could be declines between now and the Fourth of July Fourth of July, Independence Day, or July Fourth, U.S. holiday, commemorating the adoption of the Declaration of Independence. Celebration of it began during the American Revolution. . But we expect strong demand for gasoline later this summer to push prices to at or above their current levels."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., May 28:

       Area          Regular  Change from last week    Record Price

Los Angeles-Long
 Beach                $2.367       +4.8 cents       $2.367 (5/28/2004)

Orange County         $2.350       +1.4 cents       $2.351 (5/26/2004)

San Diego             $2.369       +2.8 cents       $2.373 (5/26/2004)

Santa Barbara-Santa
 Maria-Lompoc         $2.487       +5.3 cents       $2.487 (5/28/2004)

Riverside-San
 Bernardino           $2.393       +1.2 cents       $2.397 (5/26/2004)

Bakersfield           $2.382       +2.5 cents       $2.382 (5/28/2004)

Las Vegas             $2.278       +3.9 cents       $2.279 (5/26/2004)
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Copyright 2004, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:May 28, 2004
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