Riverside County Gas Prices Rise Slightly

RIVERSIDE (CNS) - The average price of a gallon of self-serve regular
gasoline in Riverside County increased seven-tenths of a cent today to $6.068.
  

The average price is 1.7 cents less than one week ago, but 29.1 cents
more than one month ago and $1.382 more than one year ago, according to figures
from the AAA and Oil Price Information Service. It has risen $1.517 since the
joint U.S./Israel attack on Iran on Feb. 28, moving within 30.5 cents of the
record $6.373 set on Oct. 5, 2022.
  

The national average price increased two-tenths of a cent to $4.515.
It is a half-cent less than one week ago, but 45.7 cents more than one month
ago and $1.336 more than one year ago. The national average price has risen
$1.533 since the attack on Iran, moving within 50.1 cents of the record $5.016
set June 14, 2022.
  

``The national average price of gasoline spent much of last week
drifting lower after jumping early in the week as oil prices softened on hopes
that diplomatic progress between the U.S. and Iran could help ease supply
concerns,'' 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.
  

``However, that optimism faded after President Trump's meeting with
China's Xi Jinping failed to produce a breakthrough on Iran, while renewed
warnings toward Tehran have helped push oil prices higher again. With global
oil inventories continuing to trend toward historically tight levels, markets
remain extremely sensitive to geopolitical developments and potential supply
disruptions. As a result, gasoline and diesel prices are likely to remain
volatile, and with Memorial Day approaching, any sustained increase in oil
prices could begin pushing retail fuel prices higher again in the weeks
ahead.''
  

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