Average Riverside County Gas Price Resumes Dropping

RIVERSIDE (CNS) - The average price of a gallon of self-serve regular
gasoline in Riverside County dropped eight-tenths of a cent today to $5.54, one
day after a run of six decreases in seven days totaling 6.6 cents ended with an
increase of three-tenths of a cent .
  

The average price is 6.6 cents less than one week ago, but 29.1 cents
more than one month ago and $1.231 higher than one year ago, according to
figures from the AAA and Oil Price Information Service.
  

The average price has increased 98.9 cents since the start of the
joint U.S./Israel attack on Iran on Feb. 28, which sent oil prices higher and
drastically accelerated increases at the gas pump.
  

The 10-day streak of decreases to the national average price, totaling
9.7 cents ended with an increase of two-tenths of a cent to $4.011. It is
7.8 cents less than one week ago, but 12.9 cents more than one month ago and
87.3 cents higher than one year ago.
  

The national average price has increased $1.029 since the attack on Iran.
  

``Average gasoline prices declined in 47 states over the last week ...
with the national average price of gasoline posting a double-digit drop per
gallon,'' 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 Monday.
  

``Iran is pushing back against a reopening of the Strait of Hormuz,
and oil prices edged modestly higher in Sunday night trading, signaling that
the recent relief may not last. With the Strait remaining closed, upward
pressure on fuel prices could return quickly, and if things don't go well, the
national average could climb to its highest level ever recorded this late in
the calendar year.
  

``For now, enjoy the dip, but keep a close eye on how the Strait
situation develops in the days ahead.''
  

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