Fuel Prices Stabilizing

The U.S. Department of Energy reports that inventories of gasoline had increased, resulting
in a leveling off and, in some cases, a slight drop in prices. In Southern California, pump
prices hit new records recently. The latest average retail price for self-serve regular gas
in the Los Angeles area was $3.337, 14 cents higher in a week.

An Auto Club spokesperson
said: “…Demand for gas has leveled out, while domestic production is up more than two
million barrels. Over the next couple of weeks, more gasoline is expected to enter the
nation’s supply and all of these factors should eventually put downward pressure on
prices.”

In Texas, prices at the pump began to head downward after eight consecutive weeks
of increases, according to AAA Texas’ Weekend Gas Watch. The current average is $2.862 a
gallon, down three cents for the week.

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