Business & Tech
Though Gas Prices Are Climbing, Experts Predict Big Drops Soon
Local prices climbed this week, but experts expect drops by Memorial Day.
Gas prices rose by more this week than last week, with the average price of self-serve regular at $4.265 per gallon in Orange County, but some experts are predicting a steady decline in prices heading into the summer.
In the Los Alamitos-Seal Beach area, the cheapest to be found is about 3 cents more than a week ago. However, the price of crude oil actually dropped this week as speculators feared public backlash to rising gas prices and some experts are expecting it to continue to fall as summer approaches.
The survey by the Automobile Club of Southern California’s Weekend Gas Watch puts the average price for the Long Beach-Los Angeles region at $4.289 per gallon, and $1.15 higher than at the same time in 2010.
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In the Inland Empire, it’s $4.260; in San Diego, it’s $4.278; and on the Central Coast, the average is $4.318.
According to MapQuest, the lowest price for gas in the U.S. is $3.39, in Casper, WY, and the highest is here in California—$5.75 in Death Valley.
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We could be seeing some Casper-like prices soon, though, says David Kiley at AOL Autos. “In a reversal of what analysts and pundits were warning just a month ago, oil prices are falling and predictions are for $3.50 per gallon gas by June, just in time for summer driving,” he reports.
“The price of a barrel of oil dropped by $9.44 on May 5 alone, lowering the price below $100 per barrel for the first time in two months. Some analysts are saying that we may see some relief at the pump, with prices dropping to an average of $3.75 per gallon by Memorial Day, and $3.50 by mid-summer.”
The stations currently selling the cheapest gas in the Los Alamitos, Rossmoor and Seal Beach areas are listed below. Local prices are according to GasBuddy.com and reflect prices reported within the last 24 hours.
Chevron at 4000 Lampson Ave. & Basswood Street
- Regular—$4.25
- Premium—$4.45
Mobil at 12240 Seal Beach Blvd. & Plymouth Drive & Rossmoor Center
- Regular—$4.25
- Premium—$4.45
ARCO at 11171 Los Alamitos Blvd. & Hedwig Road
- Regular—$4.19
- Premium—$4.39
76 at 5100 Katella Ave. & Siboney Street
- Regular—$4.25
- Premium—$4.49
Click here for more prices in the region. If you’re planning a trip, click here and plug in your travel plans to find out how much it will cost.
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