Instead of a nearly 20 cent-per-gallon jump between Thursday and Friday, Socal prices rose only 12 cents between Friday and Saturday, according to the Auto Club. So we've gone from over-the-top lunacy to just plain nuttiness. An average gallon of regular is running a record $4.661, though in many parts of L.A. prices are well over $5. A week ago, the price was $4.15. The good news is that Exxon Mobil's 149,500-barrel-a-day refinery in Torrance is returning to normal operations after being shut down much of the week by a power shortage. Also, the wholesale price of gasoline fell 7 percent on Friday after jumping more than 20 percent earlier in the week. Further price drops are likely, and it should become noticeable at the pump within a few days.
*Sunday's average price is $4.696, up only 3.5 cents a gallon from Saturday and further indication that prices are about to peak out.