Average Riverside County Gas Price Rises for Fourth Time in Five Days

RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County rose Friday for the fourth time in five days, increasing 1 cent to $4.848.

The average price has risen 2.4 cents over the past five days, including seven-tenths of a cent Thursday, and is 3.6 cents more than one week ago, but 1.1 cents less than one month ago and 90 cents lower than one year ago, according to figures from the AAA and the Oil Price Information Service.

The average price has dropped $1.525 since rising to a record $6.373 on Oct. 5.

"Oil prices are hovering above $80 a barrel after plunging to a one- year low point of $72 for Brent crude and $66 for West Texas Intermediate crude in mid-March," said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.

"Since oil costs make up about half the cost of producing gasoline, this has pushed up pump prices in California and around the country."

The national average price rose for the 17th consecutive day, increasing 1.7 cents to $3.662. It has risen 22.7 cents over the past 17 days, including 2.4 cents Thursday.

The national average price is 8.1 cents more than one week ago and 19.6 cents higher than one month ago, but 41.2 cents less the one year ago. It has dropped $1.354 since rising to a record $5.016 on June 14.

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