Average Riverside County Gas Price Decreases for 12th Time in 14 Days

RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County dropped one-tenth of a cent Monday to $4.777, a day after it was unchanged and resuming a streak of 12 decreases in 14 days. The average price dropped six consecutive days, was unchanged Monday and resumed dropping Tuesday, according to figures from the AAA and Oil Price Information Service. It is 3.6 cents less than one week ago and $1.189 lower than one year ago but 3.7 cents more than one month ago. The average price has dropped $1.596 since rising to a record $6.373 on Oct. 5. The national average price was unchanged at $3.439, a day after dropping one-tenth of a cent . It is four-tenths of a cent less than one week ago and 80.5 cents lower than one year ago but 7.4 cents more than one month ago. The national average price has decreased $1.577 since rising to a record $5.016 on June 14. Gas demand surged last week as drivers took advantage of better driving weather, but fears of a recession caused global oil prices to hover near $70 a barrel, mitigating a rise in gas prices, according to Andrew Gross, an AAA national public relations manager. "We may be seeing a return to seasonal trends in demand with warmer weather and longer days but waffling oil prices could mitigate any increase at the pump for now," Gross said. Copyright 2023, City News Service, Inc.