Average Riverside County Gas Price Records Largest Decrease Since Dec. 8

RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County dropped Wednesday for the fifth consecutive day, decreasing 4.2 cents to $6.026, one day after recording its largest decrease since Dec. 8, 4.9 cents. The average price has dropped five consecutive days, decreasing 12.5 cents, according to figures from the AAA and Oil Price Information Service. It is 1.8 cents more than one week ago and 74.1 cents higher than one month ago but 33.3 cents less than one year ago when the average price was approaching a record. The average price has dropped 34.7 cents since rising to a record $6.373 on Oct. 5. The decreasing prices stem from Gov. Gavin Newsom sending a letter to the California Air Resources Board late Thursday directing it to allow refineries to begin making and distributing winter-blend gasoline, which is cheaper to produce. Stations normally cannot start selling winter blend gas until Nov. 1. The decreasing prices follow a run of 22 increases in 24 days totaling 86.6 cents that boosted the average price to its highest amount since Oct. 12. The national average price dropped for the 14th time in 16 days, decreasing 1.3 cents to $3.785. It has dropped 9.6 cents over the past 16 days, including 1.6 cents Tuesday. The national average price is 4.7 cents less than one week ago, 2.8 cents lower than one month ago and 2 cents below what it was one year ago. It has dropped $1.231 since rising to a record $5.016 on June 14, 2022. Copyright 2023, City News Service, Inc.