News
Average Riverside County Gas Price Drops For Third Consecutive Day
RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County dropped nine-tenths of a cent Friday to $4.847, its third consecutive decrease following a run of five increases in six days totaling 3.4 cents.
The average price is one-tenth of a cent less than one week ago and 87.3 cents lower than one year ago but 4.7 cents more than one month ago, according to figures from the AAA and the Oil Price Information Service.
The average price has dropped $1.526 since rising to a record $6.373 on Oct. 5, including seven-tenths of a cent Thursday.
“Last week’s California Energy Commission report indicated a robust increase in refinery production and state gasoline supply, and oil prices have also dropped in the last week to put downward pressure on pump prices,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.
“Southern California drivers are now paying slightly less than Phoenix-area drivers for gasoline, which is unusual. That’s because gasoline is now averaging above $5 a gallon in some Arizona cities because of an ongoing supply issue in that state.”
A 23-day streak of increases to the national average price totaling 25.1 cents ended with an decrease of four-tenths of a cent to $3.682. It is 2 cents more than one week ago and 24.6 cents higher than one month ago, but 43.8 cents less the one year ago.
The national average has dropped $1.334 since rising to a record $5.016 on June 14.
Copyright 2023, City News Service, Inc.
By: Pristine Villarreal
April 21, 2023
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