Average Riverside County Gas Price Drops For 32nd Time in 33 Days

RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County dropped Friday for the 25th consecutive day and 32nd time in 33 days, decreasing 2.4 cents to $5.572, its lowest amount since March 9.

The average price has dropped 67.4 cents over the past 33 days, including 2.7 cents Thursday, according to figures from the AAA and the Oil Price Information Service. It is 15.7 cents less than one week ago and 65.9 cents lower than one month ago, but $1.282 more than one year ago. It has dropped 75.8 cents since rising to a record $6.33 June 14.

"Los Angeles wholesale gasoline prices rose about 15 cents since last week from a four-month low point, but oil prices continue to stay lower due to economic concerns and rising interest rates," said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.

"Prices are continuing to drop locally and there are now several dozen stations in Southern California with prices below $5 a gallon."

The national average price dropped for the 45th consecutive day following an 18-day streak of increases, decreasing 2.3 cents to $4.255. It has dropped 76.1 cents over the past 45 days, including 2.4 cents Thursday, after rising 41.5 cents during the 18-day streak of increases.

The national average price is 15.8 cents less than one week ago and 61.3 cents lower than one month ago, but $1.089 more than one year ago. It has dropped 76.1 cents since rising to a record $5.016 June 14.

Copyright 2022, City News Service, Inc.