Gas Prices Climb Again in Riverside County as Iran Conflict Rattles Oil Markets

Riverside County drivers are feeling it every time they pull up to the pump. The average price for a regular gallon of self-serve gas jumped four cents today to $5.146, according to AAA, up from $5.104 yesterday and a steep climb from $4.564 just one week ago.

That's nearly a 13% spike in seven days for local residents.

The numbers are painful statewide, too. California's Monday average hit $5.204 per gallon, up about five cents from Sunday and roughly 55 cents higher than a week ago. Neighboring Orange County is averaging $5.237, and Los Angeles County drivers are paying $5.251, the highest of the three.

The reason prices are rising so fast comes down to oil. The price of crude jumped above $100 per barrel Sunday, a direct result of the war in Iran that began just over a week ago. Nationally, gas has already climbed 17% since the conflict started, with the U.S. average now sitting at $3.48 per gallon. That oil price spike is expected to keep pushing retail gas prices higher in the days ahead.

Wholesale gas markets are typically closed on weekends, which means price movement tends to slow Saturday and Sunday. The bigger jumps tend to hit at the start of the week, and Monday's numbers reflect that.