Lower demand and increased imports from abroad sent gasoline prices in Los Angeles and throughout Southern California slipping for a third straight week, and steeper declines are expected in the coming weeks, said the Automobile Club of Southern California.
The average price for regular self-serve unleaded gasoline in the Los Angeles-Long Beach area fell 7.2 cents to $2.829 on Friday from $2.901 one week ago. The price was $2.924 per gallon one month ago and $2.433 one year prior. Prices haven’t hit a new record high since Sept. 6.
“Across the nation, demand for gas is down 2 percent from this time last year,” Auto Club spokeswoman Carol Thorp said. “Temporarily relaxed emissions standards have encouraged foreign imports of gasoline. Imports have more than made up for supply problems caused by Hurricanes Katrina and Rita.”
The Orange County area had the lowest average price in Southern California, dropping 8.2 cents to $2.766. The Bakersfield area had the highest gas price, dipping 6 cents to $2.951. All of the areas surveyed had average prices below the $3-a-gallon mark on Friday for the second consecutive week.
The Weekend Gas Watch monitors the average price of gasoline as of 12:01 a.m. each Friday.