Average Riverside County Gas Price Drops to Lowest Amount Since Feb. 28

RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County dropped to its lowest amount since Feb. 28 Wednesday, decreasing seven-tenths of a cent to $4.752. The average price is 1.9 cents less than one week ago, 11.1 cents lower than one month ago, and $1.205 below what it was one year ago, according to figures from the AAA and the Oil Price Information Service. It has dropped $1.621 since rising to a record $6.373 on Oct. 5. The national average price rose one-tenth of cent to $3.532 following three decreases in four days totaling 1.2 cents. It is one-tenth of a cent more than one week ago but 14.1 cents less than one month ago and 99.1 cents lower than one year ago. The national average price has dropped $1.484 since rising to a record $5.016 on June 14. "Gasoline prices continue to see significant relief from year-ago levels," said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations. "We’re likely to soon see gasoline prices slip to their largest year-on-year deficit since COVID hit, when prices fell over $1 per gallon from 2019. "The relief at the pump has been significant, and even though the gas price decline hit pause last week, it’s looking more likely that, barring a major hurricane or series of refinery outages, the national average may not end up hitting the $4 per gallon mark." Copyright 2023, City News Service, Inc.