Average Riverside County Gas Price Rises For Ninth Time in 10 Days

RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County rose Wednesday for the ninth time in 10 days, increasing seven-tenths of a cent to $4.511. The average price has risen 8.4 cents over the past 10 days, including four-tenths of a cent Tuesday, according to figures from the AAA and Oil Price Information Service. It is 7.7 cents more than one week ago and 12.3 cents higher than one month ago but 14.4 cents less than one year ago. The average price has dropped $1.862 since rising to a record $6.373 on Oct. 5. The national average price fell for the 11th consecutive day following a 17-day streak of increases, dropping 1.2 cents to $3.445. It is 5.6 cents less than one week ago but 16.4 cents more than one month ago and 1 cent higher than one year ago. The national average price has decreased 6.5 cents over the past 11 days after rising 24.3 cents during the 17-day streak of increases. It has dropped $1.571 since rising to a record $5.016 on June 14. "For the first time in 2023, the national average price of gasoline has seen a weekly decline, primarily thanks to a sharp and sudden drop in the price of oil," said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations. "While the decline in both gasoline and diesel prices is terrific, it’s not unusual to see prices falling in February, which tends to be the month with some of the lowest gasoline prices of the year thanks to seasonally weak demand. For now, motorists should enjoy the decline, but be wary as we’re likely to eventually see increases again down the road." Copyright 2023, City News Service, Inc.