LA Auto Club: Ten Straight Weeks of Falling Gasoline Prices

    LOS ANGELES--May 30, 2003--Prices at the gas pump fell again last week throughout the Southwest, marking the tenth consecutive week of falling prices and indicating that further declines are in the offing, according to the Weekend Gas Watch, compiled by the Automobile Club of Southern California.
    Currently, the average price of self-serve regular unleaded gasoline in the Los Angeles-Long Beach area is $1.778 per gallon, which is 4.7 cents lower than last week's price, 21 cents lower than last month and 21 cents higher than last year.
    In San Diego the price is $1.734, which is 5.6 cents below last week's level, 27 cents below last month and 15 cents above last year. Motorists in the Central Coast have an average price of $1.899, which is 3.8 cents lower than last week's price, 16 cents lower than last month and 23 cents higher than last year.
    "We've seen two-and-half months of falling prices and conditions are right for the trend to continue," said Carol Thorp, spokesperson for the Automobile Club of Southern California. "Prices are going down because retailers are competing for customers. Just a month ago, many places in Southern California had gasoline at over $2 per gallon. Now it's not difficult to find regular grade gas below $1.70 per gallon."
    The Weekend Gas Watch monitors the average price of gasoline at popular destinations for motoring trips. Average prices as of 12:01 a.m., May 30:

Area                       Regular         Change from   Record Price
                                           last week

Los Angeles-Long Beach     $1.778         -4.7 cents   $2.167(3/22/03)

San Diego                  $1.734         -5.6 cents   $2.211(3/20/03)

Santa Barbara-
Santa Maria-Lompoc         $1.899         -3.8 cents   $2.207(3/22/03)

Las Vegas                  $1.713         -3.0 cents   $2.063(3/25/03)

Phoenix-Mesa, Ariz.        $1.655         -5.1 cents   $2.003(3/22/03)