LA Auto Club: Gas Prices Soar as Summertime Demand Sizzles; New Record-High Prices Throughout the Region

LOS ANGELES--Aug. 12, 2005--Gasoline prices reached record-high levels this week fueled by high summertime demand, according to 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 $2.693, which is 8.9 cents higher than last week, 15 cents higher than last month and 59 cents higher than last year. In San Diego, the price is $2.735 -- 9.4 cents above last week's price, 16 cents above last month and 60 cents above last year. On the Central Coast, the average price is $2.763, up 6.7 cents from last week, 14 cents higher than last month and 48 cents higher than last year. In the Inland Empire, the average price is $2.681, up 9.4 cents from last week, 16 cents above last month and 58 cents higher than last year.

"The high summertime demand for gasoline coupled by recent refinery outages around the country are causing the spike in crude oil and pump prices," said Auto Club spokeswoman Carol Thorp. "Motorists can expect prices to continue rising through the Labor Day weekend. After that, demand typically falls and prices should begin declining."

The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m., Aug. 12, 2005:

Area                        Regular   Change from     Record Price
                                       last week

Los Angeles-Long Beach       $2.693    +8.9 cents   $2.693 (8/11/2005)

Orange County                $2.673    +9.1 cents   $2.673 (8/11/2005)

San Diego                    $2.735    +9.4 cents   $2.735 (8/11/2005)

Santa Barbara-Santa Maria-
 Lompoc                      $2.763    +6.7 cents   $2.763 (8/11/2005)

Riverside-San Bernardino     $2.681    +9.4 cents   $2.681 (8/11/2005)

Bakersfield                  $2.708   +12.4 cents   $2.708 (8/11/2005)

Las Vegas                    $2.565    +7.4 cents   $2.565 (8/11/2005)