Average Riverside County Gas Price Rises for 19th Consecutive Day

City News Service

RIVERSIDE (CNS) – The average price of a gallon of self-serve regular
gasoline in Riverside County rose today for the 19th consecutive day,
increasing 2 cents to $5.923, its highest amount since April 1.

The average price has risen 21.8 cents over the past 19 days,
including 3.4 cents Sunday, according to figures from the AAA and Oil Price
Information Service. It is 12.1 cents more than one week ago, 18.8 cents higher
than one month ago, $1.838 greater than one year ago and 4.8 cents less than
the record high of $5.971 set March 29.

The national average price rose 1.3 cents to a record $4.483, erasing
the previous record set Sunday.

“The high cost of oil, the key ingredient in gasoline, is driving
these high pump prices for consumers,” said Andrew Gross, an AAA national
public relations manager.

Crude oil costs account for slightly more than half of the pump price,
according to the U.S. Energy Information Administration. The rest of the
price includes the other components of gasoline, production costs, distribution
costs, overhead costs for all involved in production, distribution and sales,
taxes and carbon offset fees in California paid by the refineries.

Copyright 2022, City News Service, Inc.

CNS-05-16-2022 15:10

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