Auto Club: New Record High Gasoline Price Set in California; New Records Also Set in San Diego, San Francisco and Sacramento.

Lifestyle Editors/Automotive Writers/Travel Writers

LOS ANGELES--(BUSINESS WIRE)--March 4, 2003

Motorists in California today began paying a new statewide record price average of $2.036 for a gallon of self-serve unleaded gasoline, according to the Automobile Club of Southern California.

The old state record of $2.034 was set on May 15, 2001. In the past year, the price of regular unleaded has increased 67.8 cents.

San Diego motorists are paying an average of $2.039, which is a new record. The old record for San Diego was $2.025, set on May 29, 2001. In the Los Angeles-Long Beach area, the price of regular self serve is $2.006, which is only three cents below the all-time record of $2.036. Orange County has an average price of $2.022, only 1.8 cents shy of its all-time high price of $2.040. San Francisco drivers have a new record price of $2.188. Motorists in Sacramento are paying a new record price of $2.044.

"California gasoline prices have been rising steadily for the past nine and a half weeks and increases are likely to continue," said Carol Thorp, Auto Club spokesperson. "The slow march to a possible war with Iraq has been the major factor in pushing up prices. Gas price reductions may be unlikely until the Iraq situation is resolved."

Average prices as of 11:30 a.m., March 4, 2003:

Area                     Regular           Record Price

Los Angeles-Long Beach   $2.006            $2.036 (5/25/01)

San Diego                $2.039            $2.039 (4/4/03)

Orange County            $2.022            $2.040 (5/25/01)

San Francisco            $2.188            $2.188 (3/4/03)

Sacramento               $2.044            $2.044 (3/4/03)