Average Riverside County Gas Price Resumes Dropping

RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County dropped six-tenths of a cent Tuesday to $4.816, one day after a run of 10 decreases in 12 days totaling 4.5 cents ended with an increase of two-tenths of a cent.

The average price is 2.5 cents less than one week ago and 93.7 cents lower than one year ago but 4.2 cents more than one month ago, according to figures from the AAA and the Oil Price Information Service. It has dropped $1.557 since rising to a record $6.373 on Oct. 5.

The national average price dropped for the 12th consecutive day following a 23-day streak of increases totaling 25.1 cents, falling 1.4 cents to $3.596. It has dropped 9 cents over the past 12 days and is 6 cents less than one week ago and 59.8 cents lower than one year ago but 9.1 cents more than one month ago.

The national average price has dropped $1.42 since rising to a record $5.016 on June 14, including one-tenth of a cent Monday.

“After declining the prior week at a slow pace, the drop in the national average has gained momentum,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.

“Oil prices have come under additional selling pressure alongside wholesale gasoline prices, giving retailers room to pass on the lower prices. With refinery maintenance wrapping up, we should see supplies start to build in the weeks ahead, just in time for the summer driving season, potentially putting more downward pressure on prices.”

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