Average Riverside County Gas Price Rises for Fifth Time in Seven Days

RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County rose 1.1 cents to $4.423 Thursday, one day after recording its largest increase since Oct. 4, 2.6 cents.

The average price has risen five of the past seven days and is 4.7 cents more than one week ago and 13.6 cents higher than one month ago, but 17.3 cents less than one year ago, according to figures from the AAA and Oil Price Information Service.

The average price has dropped $1.95 since rising to a record $6.373 on Oct. 5.

The national average price rose for the 15th consecutive day following a five-day streak of decreases, increasing 2.1 cents to $3.502. It has risen 23.5 cents over the past 15 days, including 3.5 cents Wednesday, after dropping 2.3 cents during the five-day streak of decreases.

The national average price is 12.3 cents more than one week ago, 40 cents higher than one month ago and 16 cents greater than one year ago. It has dropped $1.514 since rising to a record $5.016 on June 14.

"Concerns are increasing that without additional oil, supply will tighten in the weeks ahead, especially as the nation starts to move away from softer demand in the height of winter," said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.

"Moving forward, it doesn’t look good for motorists, with prices likely to continue accelerating."

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