Average Riverside County Gas Price Continues To Drop

The average price of a gallon of self-serve regular gasoline in Riverside County dropped today,

decreasing seven-tenths of a cent to $5.757.

The average price has dropped 12.6 cents over the past 13 days,
including three-tenths of a cent Monday, according to figures from the AAA and
Oil Price Information Service. It dropped four consecutive days, rose two-
tenths of a cent April 13 and resumed dropping last Tuesday.
 
The average price is 6.7 cents less than one week ago, but 9.5 cents
more than one month ago and $1.047 higher than one year ago. It is 61.6 cents
less than the record $6.373 set Oct. 5, 2022.
  
Prices were rising slightly in line with seasonal norms before the
joint U.S./Israel attack on Iran Feb. 28 sent oil prices higher and drastically
accelerated increases at the gas pump. Prices began to fall slightly after the
announcement of a cease fire April 7, though subsequent peace talks in Pakistan
failed to produce a deal.
  
The national average price dropped for the 11th time in 12 days,
decreasing 2 cents to $4.022. It dropped three consecutive days, was unchanged
April 14 and resumed falling last Tuesday. It has decreased 14.4 cents over the
past 12 days, including six-tenths of a cent Monday.
  
The national average price is 9.6 cents less than one week ago, but
9,7 cents more than one month ago and 86.9 cents higher than one year ago. It
is 99.4 cents less than the record $5.016 set June 14, 2022.
  
``Average gasoline prices declined in 48 states over the last week ...
offering a welcome break at pumps,'' 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.
  
``However, that relief may prove fleeting. Oil prices surged in Sunday
night trading after Iran re-closed the Strait of Hormuz and President
(Donald) Trump signaled further escalation if Tehran does not come to an
agreement.
  
``With global oil flows remaining at risk, renewed volatility is
taking hold, and the continued back-and-forth is making any lasting resolution
increasingly fragile. As a result, gasoline prices are likely to rise again in
the days ahead ... and many of the states that exhibit price cycling could see
increases in the next 24-48 hours.''
  
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