Carol Thorp Past Quotations

Prices went up throughout Southern California this past week, but not at as rapid a pace as we've seen during other gas price spikes. It's likely that increases will continue for at least the next few weeks.

Prices remain on the rise but there is hope that we may be nearing a peak. Wholesale gas prices have averaged about $2.60 per gallon for the past week. Taxes add about 60 cents to that, transportation and dealer profit is another 5-10 cents. Prices in the L.A./Long Beach area could peak at $3.25-$3.30 by mid-May then they could decline after Memorial Day.

Southern Californians have reduced their driving significantly in the past couple of months. Additionally across the nation, demand for gas is down 2 percent from this time last year.