Los Angeles gasoline prices hit a new record high for the second week in a row on Friday as a surge in summertime demand continued sending pump prices soaring, said the Automobile Club of Southern California. Last Friday, L.A. hit a record high for the first time since April 13.
The average price for regular self-serve unleaded gasoline in the Los Angeles-Long Beach area rose 9.9 cents to $2.792 on Friday from $2.693 one week ago. The price was $2.582 per gallon one month ago and $2.060 one year prior.
“Crude oil futures and wholesale gasoline prices have shown some softness in the past couple of days, indicating that the worst of the gasoline price spikes may be near an end,” Auto Club spokeswoman Carol Thorp said. “We are only two weeks from the Labor Day holiday weekend, which is traditionally the end of the summer driving season. When demand for gas declines, pump prices generally go down also.”
The Riverside San Bernardino area under-priced Orange County to have the lowest average price in Southern California, gaining 9.5 cents to $2.776. The Santa Barbara-Santa Maria-Lompoc area had the highest gas price and the largest increase of the week, rising 10.8 cents to $2.871. All of the areas surveyed hit new price records for the second straight week.
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m. each Friday.