News
Riverside County Gas Prices Drop for 17th Consecutive Day
RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County dropped for the 17th consecutive day Monday, falling one-tenth of a cent to $5.639
The average price has dropped 51.2 cents over the past 17 days, including 1.1 cents Sunday, according to figures from the AAA and Oil Price Information Service.
The streak follows a run of 22 increases in 24 days totaling 86.6 cents. The average price is 18.7 cents less than one week ago, 6.2 cents more than one month ago, and 37.4 cents less than one year ago. It has dropped 73.4 cents since rising to a record $6.373 on Oct. 5, 2022.
The decreasing prices stem from Gov. Gavin Newsom sending a letter to the California Air Resources Board Sept. 28 directing it to allow refineries to begin making and distributing winter-blend gasoline, which is cheaper to produce.
Stations normally cannot start selling winter blend gas until Nov. 1.
The national average price dropped for the 18th consecutive day and 26th time in the last 28 days, falling one-tenth of a cent to $3.60. It has dropped 28.1 cents over the past 28 days, including eight-tenths of a cent Sunday.
The national average price is 10.4 cents less than one week ago, 27.1 cents less than one month ago, and 28.8 cents less than one year ago. It has dropped $1.416 since rising to a record $5.016 on June 14, 2022.
“As long as this war (in Israel) does not spread to include more countries in the region, the effect on the oil market will remain muted,” Andrew Gross, an AAA national public relations manager, said late last week. “Here in the U.S., there are now nine states with some county gas averages below $3 a gallon, and this number will likely increase in the coming weeks.”
Copyright 2023, City News Service, Inc.
By: Pristine Villarreal
October 16, 2023
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