Results tagged “oil”

Despite the fact that the state Assembly rejected a proposal allowing new offshore drilling in the budget vote a few weeks ago, the issues is back. Or, as Dan Jacobson of Environment California puts it, "the coast won and the oil companies lost... Or so it would seem."

Finally, the budget has passed both houses--the Senate early this morning and the Assembly this afternoon--and Governor Arnold Scwharzenegger says he plans to sign it next week. However, the LA Times hints that Schwarzenegger may do some line item vetoing and a $1.1 billion deficit still remains to be solved.

Last year this time, gas was a daily news story as it climbed to its all time high on June 21st at $4.626. However, in these recession times, gas prices are not, thankfully, news breaking items. Gas has risen 19-cents in the last two weeks, now at the price of $2.743 per gallon of regular.

The Colorado River is the water (and power) source for millions of people; it provides power to 3 million homes, waters 15% of our agriculture in the West, and gives one in 12 people something to drink. That is why many are concerned about its sustainability and longevity as a provider. In fact, many do not know this, but one environmental group, the Scripps Institution of Oceanography, has listed it as the “most endangered” waterway.

Today gas hit the average price of $1.784 per gallon of regular which has Californians paying lower average gas prices than people in twelve other states, according to Jeffrey Spring at the Auto Club. "It's an unusual situation for this state to have prices within a dime of the national average, but it is a welcome bit of relief for Californians who have been particularly hard hit by the economic downturn." That national average sits at $1.683 today.

This will never get old. Today marks the 79th day that gas prices have consecutively dropped. The current average price of a regular gallon of gas is $1.912. Statewide, it's a penny cheaper and about 12-cents cheaper nationally. So why is this happening? We asked Marie Montegomery over at the Automobile Club of Southern California (AAA): "We had price levels that were probably unsustainable earlier this year. They were based on not the laws of supply and demand, but where investors perceived where their money would be safest. They were buying up commodities like oil and gasoline futures and prices skyrocketed. Then when all this economic turbulence occurred in September, the bubble burst and everything spiraled down." Boy, did it ever.

Yes, the average price of a gallon or regular gas is now less than two bucks at $1.987 in the Los Angeles/Long Beach area. Statewide, it's $1.96 with San Francisco leading the state' highest prices at $2.073, according to AAA.

Around the nation, some cities are finding their gas prices to be lower than $2. For Los Angeles, that's not the reality, at least yet. Today, the average price of a regular gallon of gas in Los Angeles is $2.574, 27-cents lower than a week ago Monday and 15.6-cents lower than last Thursday. As usual, you may know about cheaper than the average gas in the area. If so, chime in the comments section.

The price of gas in Los Angeles continues to drop as today's local average for a gallon of regular comes out to $2.730, more than 11-cents from Monday's reported average of $2.846. A week ago today, Los Angeles gas was $3.019, nearly 29-cents higher. Of course, you may have spotted cheaper gas in the city. If so, let us know in the comments!

The average gallon or regular gas in the Los Angeles area today is $2.846 meaning gas has dropped around 16-cents since last Thursday and 29-cents since last week Monday.

Eight days ago a regular gallon of gas cost was $3.25. This past Monday, October 27 it was $3:137. Today, October 30: $3.019. Enjoy it while it lasts.

In five days, gas prices have dropped more than 10-cents. On October 22 a regular gallon of gas was $3.25, 20-cents less than a week prior to then. Today, the price for the Los Angeles area averages out to $3.137. In fact, some stations, near and far, are changing out that 3 for a 2: "We've never seen local gas prices come down this fast in such a short period," Auto Club spokesperson Jeffrey Spring said last Friday. "Gas stations in Buena Park, Chula Vista, Visalia and a few other local cities are the first to post sub-$3 gas prices, and we could see many more over the next week if this decline continues."

Last Thursday for a regular gallon of gas in Los Angeles: $3.45. Today: $3.25. But will this trend continue downward? Not so fast, says Jeff Siegel at Treehugger: "The fact is, a weakening economy has created fertile ground for falling gas prices. And this is not likely to ease up in the short-term. However, folks shouldn't get too comfortable. Because while economic downturns and recessionary times don't last forever – depleted fossil fuels do. And that's why these lower gas prices represent nothing more than a blip."

"Southland gas prices plummeted by more than a penny a day over the past month," AAA of Southern California reported today, adding this observation: "Despite the sizable drop in recent months, however, prices are at about the same level in most areas as the 2007 record high prices." The current price of a regular gallon of gas in Los Angeles is $3.454.

If you're paying more than that, then just know that this is the average in the Los Angeles area, according to AAA. The last time we were at this price point, it was three months ago at the end of May.

The average price of gas in Los Angeles is now down to $4.160, which is pretty flush with the state's average ($4.159). Mark Lacter at LA Biz Observed is starting to see gas prices hit below $4.00 in some places. But Steve Hymon at Bottleneck Blog found that the gas station he watches, a Chevron in Pasadena, on a daily basis is still pretty high ($4.31) compared to the average and surrounding stations.

Over the past month, the average price of gas has taken a steady decline of about 40-cents per gallon, making the Los Angeles region's average price for regular unleaded cost $4:22, according to AAA.

Mahalo Daily hit the streets of Santa Monica and interviewed people about gas prices and how it was affecting them. They also asked gas price predictions for January 1st, 2009. Everyone said at least over $5. The current average price of a gallon of regular gas in Los Angeles is $4.576. The highest reached was 4.626 on June 21.

The average price of a gallon of regular gas continues to steadily get lower. Today, the average is $4.58. To contrast California's prices, the national average broke a record today nearing $4.11. A barrel of oil is now at $141 today, which is four dollars down.

Today, a barrel of oil spiked at $143.52, a (broken) record, once again. That comes at a time when the Los Angeles area has been seeing a two-week plateau in gas prices around $4.60. AAA reports gas in Los Angeles averages at $4.602, but LosAngelesGasPrices.com has gas tipping down towards $4.57.

As gas prices hit all-time highs, so is the Internal Revenue Service's mileage rate standard, which is currently 50.5 cents. Next Tuesday, it will be raised to 58.5 cents, a move that is usually saved for the Fall, but like with Hurricane Katrina when gas prices spiked, the IRS made a mid-year adjustment, which will last through the end of the year. Current gas prices in Los Angeles have been averaging out to a steady $4.621 for a gallon of regular gas.

A report has come out saying what we all already knew: California has the highest gas prices in the country. The good news is that since June 13, the prices have leveled out to a steady average of $4.60 a gallon of regular with the highest reported average on last Saturday at $4.626.

Metrolink's ridership got a shot of adrenaline yesterday as ridership jumped to an all time high of 50,232 passengers -- a 15.6% increase since Tuesday for the regional commuter train service.

As gas prices have been stagnant at $4.61/gallon for regular in Los Angeles (the average is $4.075 for the country) for the past five days, John McCain is calling for, among other things, offshore drilling laws to be eased. He's obviously gaining oil industry support.

Here's a sign of the times. This bike rack at the Variety/E Channel Meridian Club building on Wilshire normally has three or four bikes on it. This day, bikes (including mine) had to be locked to parking meters because the rack was full.

Even if it means using two gallons of gas while waiting in lines at the border, a new trend of filling up your tank in Mexico is worth it for those who have SUVs and trucks. Regular gas costs $2.54 a gallon at Pemex stations in Tijuana compared to San Diego, where it's over one-dollar higher at $4.624. Then you've got diesel at $2.20 in Tijuana vs. $5.04 in San Diego.

As a regular gallon of gas briefly plateaued at $4.60 over the weekend in Los Angeles (nationally, $4.08), people took to the streets to protest big oil. "If we're not mobil, we won't buy Mobil," their Kiss My Gass' slogan reads in their "imMobil" protest month, which asks participants not to buy gas from Exxon, Esso and Mobil from today through July 14.

While the current national average for unleaded gas is $4.066 per gallon, California leads the way with a state average of $4.564, with Los Angeles' average at $4.579. "Southern California gas prices are nearly 40 percent higher than they were at this time last year and 93 percent higher than at this time in 2005," Jeffrey Spring of AAA told the Daily News. 30 days ago, gas in Los Angeles averaged at $3.88.

As explained yesterday on why California has the highest gas prices in the nation, next to Alaska, stringent pollution requirements and high taxes were the main reasons.