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Five-Day Streak of Rising Gas Prices in Riverside County Ends
RIVERSIDE (CNS) – A five-day streak of increases to the average price of a gallon of self-serve regular gasoline in Riverside County totaling 2.5 cents ended Tuesday with a decrease of a half-cent to $4.772.
The average price is 1.3 cents more than one week ago but 6.8 cents less than one month ago and $1.217 lower than one year ago, according to figures from the AAA and the Oil Price Information Service. It has dropped $1.601 since rising to a record $6.373 on Oct. 5.
The national average dropped three-tenths of a cent to $3.543 after rising nine-tenths of a cent over the previous five days, including one-tenth of a cent Monday. It 1.2 cents more than one week ago but 12.6 cents less than one month ago and $1.053 lower than one year ago.
The national average price has dropped $1.473 since rising to a record $5.016 on June 14.
“In the run up to Memorial Day, the national average price of gas has seen little overall movement over the last week,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.
“We’ve seen more states see prices climb than fall, which has been driven by oil’s volatility as debt ceiling discussions are ongoing. I think we’ll see prices rise slightly as we get closer to Memorial Day, especially if there are positive developments in the debt ceiling discussions in D.C., while pessimism could drive prices slightly lower.”
Copyright 2023, City News Service, Inc.
By: Pristine Villarreal
May 23, 2023
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