RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County rose Tuesday for the 32nd time in 35 days, increasing 1 cent to $4.852, its highest amount since Dec. 1.
The average price has increased 41.9 cents over the past 35 days, including two-tenths of a cent Monday, according to figures from the AAA and Oil Price Information Service. It is 10.8 cents more than one week ago and 34.8 cents higher than one month ago but 45.2 cents less than one year ago.
The average price has dropped $1.521 since rising to a record $6.373 on Oct. 5, 2022.
The national average price rose for the seventh consecutive day following a run of 29 decreases in 31 days totaling 15.3 cents, increasing 1.2 cents to $3.417. The national average price is 6 cents more than one week ago but 4 cents less than one month ago and 64.8 cents lower than one year ago.
The national average price has dropped $1.599 since rising to a record $5.016 on June 14.
“The national average rose last week as the transition to summer gasoline has now started across the entire country,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.
“The higher cost of these various blends is being passed along to motorists, as we see every year ahead of the summer driving season. Some regions are moving to the required summer gasoline in different steps then others, and the fragmentation of required blends absolutely plays a role in these price increases.
“Logistical challenges in making the transition during a time when refiners are also doing maintenance work can create hot spots and lead to noticeable jumps in prices during the spring. While we may not see weekly increases, the overall trend will remain upward through much of the spring.
“By Memorial Day, most of the nation will have transitioned to their respective required blend of fuel, and gas prices could ease, but a $4 per gallon national average remains possible by then.”
Copyright 2023, City News Service, Inc.