News
Average Riverside County Gas Price Drops for Second Time in Three Days
RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County decreased Tuesday for the second time in three days following a run of nine consecutive increases totaling 7.2 cents.
The average price dropped four-tenths of a cent Tuesday to $4.853, according to figures from the AAA and the Oil Price Information Service. It decreased a half-cent Sunday and rose three-tenths of a cent Monday.
The average price is 3.4 cents more than one week ago and 3.5 cents higher than one month ago but 98.8 cents less than one year ago. It has dropped $1.52 since rising to a record $6.373 on Oct. 5.
The national average price dropped two-tenths of a cent to $3.563, the fourth consecutive day it changed by two-tenths of a cent or less. It was unchanged Saturday, dropped two-tenths of a cent Sunday and rose one-tenth of a cent Monday.
The national average price is 2.2 cents more than one week ago but 1.3 cents less than one month ago and 95.8 cents lower than one year ago. It has dropped $1.453 since rising to a record $5.016 on June 14, 2022.
“With oil prices rising to $75 per barrel last week, the highest level in months, the national average price of gasoline saw similar upward pressure, with a little over half of the nation’s states seeing gas prices rise 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.
“While the price increases could continue into this week, I would expect them to be fairly mild, with the national average likely staying in the $3.50-$3.60 range that we’ve been stuck in since April for the coming week and likely into next week as well.”
Copyright 2023, City News Service, Inc.
By: Pristine Villarreal
July 18, 2023
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