News
Average Riverside County Gas Price Rises for 24th Consecutive Day
RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County rose Friday for the 24th consecutive day, increasing 1.1 cents to $4.743, its highest amount since Dec. 4.
The average price has increased 31 cents over the past 24 days, including 1.3 cents Thursday, according to figures from the AAA and Oil Price Information Service. It is 8.9 cents more than one week ago, 35.7 cents higher than one month ago and 1 cent greater than it was one year ago.
The average price has dropped $1.63 since rising to a record $6.373 on Oct. 5, 2022.
“Los Angeles wholesale gasoline prices moved up significantly last week in response to refinery problems and have backed down somewhat, but they are still at almost the same level as this time last year on the eve of the Russian Ukraine invasion,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.
“This is despite the fact that oil prices are nearly $20 lower per barrel than this time last year, indicating that other factors are playing a role in the increased prices, such as continued inflation and California’s steady reduction in refinery output and capacity.”
The national average price dropped for the 25th time in 27 days, decreasing eight-tenths of a cent to $3.385. It has dropped 12.5 cents over the past 27 days, including four-tenths of a cent Thursday.
The national average price is 3.6 cents less than one week ago, 6.1 cents lower than one month ago, and 15.8 cents below what it was one year ago.
The national average price has dropped $1.631 since rising to a record $5.016 on June 14.
Copyright 2023, City News Service, Inc.
By: Pristine Villarreal
February 24, 2023
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