Average Riverside County Gas Price Rises for 25th Day in a Row

RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County rose Wednesday for the 25th consecutive day, increasing 1 cent to $5.143.

The average price has risen 30.1 cents over the past 25 days, including 1.9 cents Tuesday, according to figures from the AAA and the Oil Price Information Service. The streak of increases follows a run of six decreases in seven days totaling 1.7 cents.

The average price is 9.1 cents more than one week ago and 28.9 cents higher than one month ago but 10.3 cents less than one year ago. It has dropped $1.14 since rising to a record $6.373 on Oct. 5.

The national average price rose for the 25th time in 29 days, increasing 1.1 cents to $3.873. It has risen 31 cents over the past 29 days, including 1.1 cents Tuesday. It is 4.8 cents more than one week ago and 30.9 cents higher than one month ago but 7.6 cents less than one year ago.

The national average price has dropped $1.143 since rising to a record $5.016 on June 14, 2022.

“The national average price of gasoline continues to hold near the highest level we’ve seen since last October. It could climb slightly higher as we get closer to Labor Day, as oil prices remain under pressure from recent OPEC+ production cuts,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations, referring to the Russia-led group of oil producers.

Copyright 2023, City News Service, Inc.