Average Riverside County Gas Price Drops for Seventh Time in Eight Days

RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County dropped Friday for the seventh time in eight days, decreasing 1 cent to $4.831, one day after its largest drop since Dec. 21, 1.3 cents.

The average price has dropped 4.5 cents over the past eight days following a run of 34 increases in 37 days totaling 44.3 cents, according to figures from the AAA and Oil Price Information Service. It is 4 cents less than one week ago and 94.4 cents lower than one year ago but 17.7 cents more than one month ago.

The average price has dropped $1.542 since rising to a record $6.373 on Oct. 5, 2022.

"Oil Price Information Service analyzed Energy Information Administration data and reports that Western states received their highest level of gasoline imports since October," said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.

"OPIS also reports that U.S. gas station sales declined year-over- year in February for the first time since January 2021, and economic concerns have pushed down oil prices to their lowest level since November 2021."

The national average price dropped seven-tenths of a cent to $3.457, one day after decreasing two-tenths of a cent. It is 1.7 cents less than one week ago and 83.2 cents lower than one year ago but 3.6 cents more than one month ago.

The national average price has dropped $1.559 since rising to a record $5.016 on June 14.

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