New record high prices for regular self serve gasoline were set this week in Los Angeles as prices surged, according to the latest Weekend Gas Watch from the Automobile Club of Southern California.

The average price of self-serve regular gasoline in the Los Angeles Long Beach area is $3.029, which is 11.5 cents higher than last week, 33 cents higher than last month and 41 cents higher than last year. The average price of diesel gasoline reached $3.203, still below the record high of $3.46 reached on Oct. 5. The Auto Club survey monitors the average price of gasoline each Friday.

“Motorists have not seen the end of price increases,” said Auto Club spokesperson Carol Thorp. “Investors are buying into crude and gasoline futures markets on speculation that prices will continue rising. Retail prices still have not caught up with wholesale price increases. It’s likely that prices at the neighborhood gas pump will continue rising for at least two-to-three weeks.”

In San Diego, the price is $3.044 , 12.6 cents above last week’s price, 35 cents above last month and 43 cents above last year. On the Central Coast, the average price is $3.116, up 11 cents from last week, 32 cents above than last month and 39 cents higher than last year. In the Inland Empire, the average price is $3.053, up 11.5 cents from last week, 34 cents above last month and 41 cents higher than last year.