Business, Finance & Tech
Average Riverside County Gas Price Drops for Eighth Day in a Row
(CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County dropped 5.7 cents to $6.143, its eighth consecutive decrease after rising to a record.
The average price has dropped 23 cents over the past eight days, including 4.6 cents Wednesday, according to figures from the AAA and the Oil Price Information Service. The decreases follow a 16-day streak of increases totaling $1.064.
The average price is 22.7 cents less than one week ago but 86.2 cents more than one month ago and $1.785 higher than one year ago.
“Gas prices in California are finally cooling off, as more refineries come back online after undergoing maintenance and the switch to cheaper winter blends takes effect,” said Andrew Gross, an AAA national public relations manager.
The national average price dropped nine-tenths of a cent to $3.913. It is the second day in a row the national average price dropped. It rose for 11 consecutive days, dropped four-tenths of a cent Oct. 2 and resumed increasing Oct. 3 before dropping one-tenth of a cent on Wednesday.
The national average price is 4.6 cents more than one week ago, 20.6 cents higher than one month ago and 62.5 cents greater than one year ago.
The national average price is $1.103 less than the record $5.016 set June 14.
The run of increases follows a 98-day streak of decreases totaling $1.342 that began the day after the record was set.
“High West Coast prices have played a major role in the recent climb in the national average for gas,” Gross said. “Reversing this trend may help take some pressure off of pump prices.”
Copyright 2022, City News Service, Inc.
By: Ceci Partridge
October 13, 2022
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