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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 recorded its largest decrease since Dec. 8 Thursday, dropping 5.1 cents to $5.975, falling under $6 for the first time since Sept. 26.
The average price has dropped six consecutive days, decreasing 17.6 cents, including 4.2 cents Wednesday, according to figures from the AAA and Oil Price Information Service.
The average price is 14 cents less than one week ago and 39.8 cents lower than one year ago when it rose to a record $6.373 but 69 cents higher than one month ago.
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 15th time in 17 days, decreasing 1.7 cents to $3.768. It has dropped 11.3 cents over the past 17 days, including 1.3 cents Wednesday.
The national average price is 6.7 cents less than one week ago, 4.3 cents lower than one month ago and 6.3 cents below what it was one year ago. It has dropped $1.248 since rising to a record $5.016 on June 14, 2022.
Copyright 2023, City News Service, Inc.
By: Pristine Villarreal
October 5, 2023
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