Average Riverside County Gas Price Drops for 10th Time in 11 Days

RIVERSIDE (CNS) – The average price of a gallon of self-serve regular
gasoline in Riverside County dropped four-tenths of a cent today to $5.716, the
10th decrease in 11 days.

The average price has dropped 7.7 cents over the past 11 days,
including three-tenths of a cent Thursday, according to figures from the AAA
and Oil Price Information Service. It dropped five consecutive days, rose two-
tenths of a cent Sunday and resumed dropping Monday.

The average price is 2 cents less than one week ago and 16.5 cents
lower than one month ago but $1.758 higher than one year ago.

"The Energy Information Administration reported Wednesday that West
Coast gasoline stockpiles shrank over the previous week, as some imports that
were expected for California are reportedly being redirected to East Coast
cities that are having supply issues," said Doug Shupe, the Automobile Club of
Southern California’s corporate communications manager.

"Los Angeles wholesale gasoline prices rose (Wednesday) after that
news, but they are still about 75 cents lower than the record high level
reached on March 23, so there should still be plenty of room for prices to drop
further."

Copyright 2022, City News Service, Inc.

CNS-04-22-2022 03:52