Average Riverside County Gas Price Rises to Highest Amount Since Dec. 7

RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County rose Tuesday for the 14th consecutive day and 15th time in 16 days, increasing nine-tenths of a cent to $4.58, its highest amount since Dec. 7. The average price has risen 15.3 cents over the past 16 days, including a half-cent Monday, according to figures from the AAA and Oil Price Information Service. It is 7.6 cents more than one week ago and 21.3 cents higher than one month ago, but 9.2 cents less than one year ago. The average price has dropped $1.793 since rising to a record $6.373 on Oct. 5. The national average price fell for the 17th consecutive day following a 17-day streak of increases, dropping two-tenths of a cent to $3.414. It is 4.3 cents less than one week ago and 7.4 cents lower than one year ago, but 12 cents more than one month ago. The national average price has decreased 9.6 cents over the past 17 days, including three-tenths of a cent Monday, after rising 24.3 cents during the 17-day streak of increases. It has dropped $1.602 since rising to a record $5.016 on June 14. Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations, predicts the average national price will soon begin increasing. "GasBuddy data shows that gasoline demand has risen for the third straight week, a trend that will likely continue as we gradually see temperatures warm and the heart of winter moves to the rear view," De Haan said. "Also, refinery maintenance season will soon be in full force, likely putting upward pressure on prices. "On average, gasoline prices rise between 35 and 85 cents per gallon between March and Memorial Day, so motorists seeing prices fall should enjoy the declines while they last." Copyright 2023, City News Service, Inc.