Average Riverside County Gas Price Drops For Fifth Time in Six Days

RIVERSIDE (CNS) - The average price of a gallon of self-serve regular
gasoline in Riverside County resumed dropping today, decreasing eight-tenths of
a cent to $5.824, one day after a four-day streak of decreases totaling 5.3
cents ended with an increase of two-tenths of a cent.
  

The average price is 5.6 cents less than one week ago, but 37.5 cents
more than one month ago and $1.072 more than one year ago, according to figures
from the AAA and Oil Price Information Service. It is 54.9 cents less than the
record $6.373 set on Oct. 5, 2022.
  

Prices were rising slightly in line with seasonal norms before the
joint U.S./Israel attack on Iran on Feb. 28 sent oil prices higher and
drastically accelerated increases at the gas pump. Prices began to fall
slightly after news of a cease fire earlier this month, though subsequent peace
talks in Pakistan failed to produce a deal.
  

The national average price also resumed dropping, falling seven-tenths
of a cent to $4.118, one day after a three-day streak of decreases totaling
4.1 cents ended when it was unchanged. It is 2.2 cents less than one week ago,
but 44.3 cents more than one month ago and 93.4 cents more than one year ago.
  

The national average price is 89.8 cents less than the record $5.016
set on June 14, 2022.
  

``Average gasoline prices surged for many Americans through the first
half of last week before easing in some areas after oil prices slipped
following President (Donald) Trump's announcement of a cease fire,'' 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.
  

``However, with a breakdown in talks and renewed escalation over the
weekend, motorists should prepare for another round of price increases. The
move toward a full blockade of the Strait of Hormuz is compounding global
supply concerns and risks further disrupting flows, which pushed oil prices
sharply higher in Sunday night trading. As a result, gasoline prices are likely
to jump again this week ... until there is a meaningful restoration of shipping
through the strait.''
  

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