Gas Prices Hit Record High This Month

Southern California gas prices have set a new October record, according to the Automobile Club of Southern California’s monthly Fuel Gauge Report.

The SoCal October average price for regular unleaded self-serve gasoline is $3.824, which is 14 cents lower than the September average of $3.967 and 73 cents higher than last year’s October Fuel Gauge price of $3.094. The previous record Southern California October monthly price was $3.449, set in 2008.

Gas prices in Palos Verdes are the cheapest at ARCO, 27301 Hawthorne Blvd. and Silver Spur Road, with regular gas at $3.67 a gallon, according to GasBuddy.com.

The statewide average price of $3.806 is 14 cents lower than the September average of $3.945 and 71 cents higher than last year’s October Fuel Gauge statewide price average of $3.096.

Among surveyed cities statewide, Marysville has the lowest price average at $3.654 and South Lake Tahoe has the highest average at $3.996. In Southern California, the lowest price average can be found in Victorville at $3.741 and the highest gas price average is in El Centro at $3.935.

Nationally, the October average price of $3.396 is 25 cents lower than the September average of $3.642. Hawaii continues to have the highest average price among U.S. states at $4.211. Missouri has the lowest state average price at $3.155.

“Even if gas prices declined by a penny a day between now and the end of the year, the Southern California average price would still be above $3 a gallon,” said Auto Club spokesperson Jeffrey Spring. “Given this reality, economists say that consumers are both shifting a greater part of their budgets toward fuel and cutting back on the miles they drive.”