Average Riverside County Gas Price Drops For 21st Time in 22 Days

RIVERSIDE (CNS) - The average price of a gallon of self-serve regular gasoline in Riverside County dropped today for the 21st time in 22 days, decreasing 1.7 cents to $4.532.

   The average price has dropped 23.6 cents over the past 22 days, including a half-cent Monday, according to figures from the AAA and the Oil Price Information Service. It dropped six consecutive days, rose two-tenths of a cent Nov. 17 and resumed decreasing the following day.

   The average price is 8 cents less than one week ago and 9.6 cents lower than one month ago but 20 cents more than one year ago. It has dropped $1.841 since rising to a record $6.373 on Oct. 5, 2022.

   The national average price dropped for the 12th consecutive day, decreasing three-tenths of a cent to $2.998. It has dropped 10.2 cents over the past 12 days, including four-tenths of a cent Monday.

   The streak of dropping national prices follows a four-day streak of increases totaling 2.8 cents.

   The national average price is 5.7 cents less than one week ago, 3.8 cents lower than one month ago and 4.9 cents below what it was one year ago. It has dropped $2.018 since rising to a record $5.016 on June 14, 2022.

   ``Nearly every state saw average gas prices fall heading into Thanksgiving,'' Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations, said in a statement released Monday.

   ``With refinery maintenance largely complete and OPEC increasing oil production for December, oil prices have struggled. Combine those factors and you have a solid recipe for continued downward pressure on gas prices in the weeks ahead.

   ``A few dozen stations are already offering gas under $2 per gallon, and we could see that number grow as we move further into the holiday season. It couldn't come at a better time for Americans -- with relief arriving just as the holidays kick off.''