Fuel prices have reached another record high during the last few weeks, according to a
recent nationwide survey. The average price for gas climbed nearly 20 cents to $2.53 for
the three weeks ending August 12, according to the Lundberg Survey.
That is up by an
average of 70 cents since the beginning of the year. In Southern California, the average
cost of self-serve regular gas sold in the Los Angeles area was $2.693, which is 59 cents
higher than last year, according to the Automobile Club of Southern California’s Weekend
Gas Watch. However, if adjusted for inflation, fuel prices have not climbed to the record
levels reached in the 1980s.
Gas prices are expected to remain high through Labor Day, but
then may drop off somewhat thereafter.