Average Riverside County Gas Price Rises for Second Consecutive Day

RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County rose 1.5 cents Friday for the second consecutive day to $4.85 following a six-day streak of decreases totaling 3.3 cents.

The average price is four-tenths of a cent more than one week ago and 7.7 cents higher than one month ago but $1.433 less than one year ago, according to figures from the AAA and the Oil Price Information Service. It has dropped $1.523 since rising to a record $6.373 on Oct. 5.

“There are some mixed signals in the market that are causing volatility for Los Angeles wholesale gasoline prices,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager. “Arizona gas prices seem to finally be dropping after months of a supply issue, so that may ease production pressures on Southern California refineries that also make Arizona fuel.

“According to Oil Price Information Service, West Coast refineries just reported their highest weekly utilization rate since 2019, which rose to 93% from 90% the previous week.”

The national average price rose for the third consecutive day following an eight-day streak of decreases totaling 3.7 cents, increasing 1.9 cents to $3.583. It is 1.6 cents more than one week ago and 5.7 cents higher than one month ago but $1.387 less than one year ago.

The national average price has dropped $1.433 since rising to a record $5.016 on June 14.

Copyright 2023, City News Service, Inc.