L.A. Gas Prices U-Turn, Move Higher

0

After 13 consecutive weeks of steady declines, L.A. gas prices began 2006 moving higher, and conditions indicate that rapid increases are likely in the next couple of weeks, said the Automobile Club of Southern California.


Prices in Southern California had been falling at a slower pace recently, suggesting that per-gallon costs were bottoming out and that decreases would soon end.


The average price for regular self-serve unleaded gasoline in the Los Angeles-Long Beach area rose 1.2 cents to $2.238 on Friday from $2.226 one week ago. The price was $2.369 per gallon one month ago and $1.999 one year prior. Prices haven’t hit a new record high since Sept. 6.


“Wholesale gasoline prices have jumped about 15 percent in the past two weeks as speculators buy into a market that they expect to be much higher within a few weeks,” said Auto Club spokesperson Carol Thorp. “Motorists can expect to see sharp increases in the next week.”


The Orange County area had the lowest average price in Southern California, edging up 2.3 cents to $2.213. The Santa Barbara-Santa Maria-Lompoc area had the highest gas price, climbing 2 cents to $2.410.


The Weekend Gas Watch monitors the average price of gasoline each Friday.

No posts to display