Average Riverside County Gas Price Rises for 11th Time in 12 Days

City News Service Pristine Villarreal

RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County rose Friday for the 11th time in 12 days, increasing 1.1 cents to $4.543, its highest amount since Dec. 9.

The average price has risen 11.6 cents over the past 12 days, including 2.1 cents Thursday, according to figures from the AAA and Oil Price Information Service. It is 7.2 cents more than one week ago and 16.8 cents higher than one month ago but 11.9 cents less than one year ago.

The average price has dropped $1.83 since rising to a record $6.373 on Oct. 5.

“Last Friday, Oil Price Information Service stated that California refineries have reported higher-than-usual planned maintenance as well as unplanned outages in recent weeks, yet gasoline inventories have apparently risen at the same time, indicating possible slower demand,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.

“This week’s pump price increases appear to be mainly related to the refineries switching to summer-blend fuel, which pushed up wholesale prices since it is more expensive to produce.”

The national average price fell for the 13th consecutive day following a 17-day streak of increases, dropping six-tenths of a cent to $3.431. It is 6 cents less than one week ago and 4.6 cents lower than one year ago but 16.1 cents more than one month ago.

The national average price has decreased 7.9 cents over the past 13 days after rising 24.3 cents during the 17-day streak of increases. It has dropped $1.585 since rising to a record $5.016 on June 14.

Copyright 2023, City News Service, Inc.

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