Average Riverside County Gas Price Drops for Fifth Time in Six Days

RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County dropped Friday for the fifth time in six days, decreasing eight-tenths of a cent to $4.821.

The average price has dropped 3.6 cents over the past six days, including 1.1 cents Thursday, following three consecutive increases totaling 3.7 cents, according to figures from the AAA and the Oil Price Information Service.

The average price is 2.9 cents less than one week ago and $1.501 lower than one year ago but 6.2 cents higher than one month ago. It has dropped $1.552 since rising to a record $6.373 on Oct. 5.

“Summer is typically the time of year with the highest demand for gasoline, and usually big price decreases do not occur during this season,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.

“However, Arizona price averages have been dropping significantly since late last month as a supply issue has been resolved. That could help ease pressure on Southern California refineries that are also producing Arizona fuel, perhaps also providing some price relief locally.”

The national average price dropped for the fourth consecutive day, decreasing six-tenths of a cent to $3.583. It has dropped 1.1 cents over the past four days, including two-tenths of a cent Thursday, after a streak of six consecutive increases totaling 4.9 cents.

The national average price is unchanged from one week ago, 5.2 cents more than one month ago but $1.426 less than one year ago. It has dropped $1.433 since rising to a record $5.016 on June 14. 2022.

Copyright 2023, City News Service, Inc.