Average Riverside County Gas Price Drops, Ending 10 Straight Days of Increases

RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County dropped seven-tenths of a cent Friday to $4.846, ending a 10-day streak of increases.

The average price rose 10.1 cents over the previous 15 days, including eight-tenths of a cent Thursday, according to figures from the AAA and the Oil Price Information Service. It rose five consecutive days, dropped a half- cent May 23 and resumed increasing May 24.

The average price is 6.1 cents more than one week ago and 3 cents higher than one month ago but $1.233 less than one year ago. It has dropped $1.527 since rising to a record $6.373 on Oct. 5.

"Los Angeles wholesale gasoline prices moved up sharply in May before the holiday, but have dropped back down in the past week, indicating that current supplies are meeting the demand and possibly signaling the end of pump price increases for now," said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.

The national average price dropped seven-tenths of a cent to $3.567 a day after dropping two-tenths of a cent. It is a half-cent less than one week ago, 2.9 cents less than one month ago and $1.148 lower than one year ago.

The national average price has dropped $1.449 since rising to a record $5.016 on June 14.

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