Good news for weekend warriors who plan on doing a little traveling this holiday. Gas prices have fallen nearly 8 cents since last week, and a gallon is 25 cents lower than last month in the Los Angeles-Long Beach area, according to the Automobile Club of Southern California.
Spokesperson Jeffrey Spring attributes the drop to the federal government’s decision to release oil from the Strategic Petroleum Reserve.
“Prices came down a little more quickly this week, perhaps because of last week’s Obama administration announcement that it is releasing oil from the Strategic Petroleum Reserve,” said Spring.
Despite the recent drop in gas prices, one gallon still costs 69 cents more than it did this time last year. Spring said this will keep more people at home this weekend.
“The Auto Club is predicting that 2.29 million of the 2.9 million local Independence Day travelers will go by car. That’s a 2.9 percent decrease from last year’s car travelers over this holiday and higher gas prices are probably a major reason for the downturn.”
The record price for this week was set in 2008, when gas was averaging $4.63 a gallon in our area.
Here’s a peak at what gas is averaging around Southern California right now.
Los Angeles / Long Beach - $3.82 per gallon
Orange County - $3.79 per gallon
Santa Barbara / Santa Maria / Lompoc - $3.86 per gallon
Riverside / San Bernardino - $3.79 per gallon
Bakersfield - $3.87 per gallon