News
Average Riverside County Gas Price Records Largest Daily Increase Since Oct. 1
RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County recorded its largest increase since Oct. 1 Friday, rising 3.8 cents to $4.654, its highest amount since Dec. 6.
The average price has risen for 17 consecutive days and 18 of the past 19, increasing 22.7 cents, including 2.5 cents Thursday, according to figures from the AAA and Oil Price Information Service. It is 11.1 cents more than one week ago and 28.5 cents higher than one month ago, but 4.1 cents less than one year ago.
The average price has dropped $1.719 since rising to a record $6.373 on Oct. 5.
“Oil Price Information Service reports that the Wilmington portion of the Phillips 66 Los Angeles refinery reported unplanned flaring last week and several other West Coast refineries are having issues, while the California Energy Commission reported significantly lower inventories of gasoline last week,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.
“This time last year in Southern California, gas prices were breaking records almost every day due to inflation and higher oil prices in the ramp- up to the Russia-Ukraine war. Unfortunately, today’s average prices are very similar to this time last year because Southern California’s gas price averages remained well above $4 a gallon even at their lowest point of 2022.”
The national average price dropped one-tenth of a cent to $3.421 after back-to-back increases of four-tenths of a cent which followed a 17-day streak of decreases totaling 9.6 cents. The average price is 1 cent less than one week ago and 10.1 cents lower than one year ago, but 9.4 cents more than one month ago.
The national average price has dropped $1.595 since rising to a record $5.016 on June 14.
Copyright 2023, City News Service, Inc.
By: Pristine Villarreal
February 17, 2023
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