RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County rose Friday for the eighth time in nine days, increasing six-tenths of a cent to $4.785.
The average price has risen 3.3 cents over the past nine days, including three-tenths of a cent Thursday, according to figures from the AAA and the Oil Price Information Service. It rose five consecutive days, dropped a half-cent Tuesday and resumed increasing Wednesday.
The average price is 1.9 cents more than one week ago but 5.2 cents less than one month ago and $1.191 lower than one year ago. It has dropped $1.588 since rising to a record $6.373 on Oct. 5.
The national average price dropped two-tenths of a cent to $3.572 after rising 3.1 cents over the previous two days, including 1.8 cents Wednesday, its largest daily increase since the 2.4-cent increase April 13.
The national average price is 3.1 cents more than one week ago but 7.4 cents less than one month ago and $1.028 lower than one year ago. It has dropped $1.444 since rising to a record $5.016 on June 14.
“The rise in demand for gasoline is helping to push pump prices higher for now,” said Andrew Gross, an AAA national public relations manager. “But the increase is mitigated by the low cost of oil, which is wobbling around in the low $70s per barrel. Pump prices could stabilize or fall once this long weekend is in the rearview mirror.”
Copyright 2023, City News Service, Inc.