Average Riverside County Gas Price Rises For 13th Time in 14 Days

City News Service Pristine Villarreal

RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County rose Wednesday for the 13th time in 14 days, increasing 1 cent to $4.845, its highest amount since April 21.

The average price has risen 9.3 cents over the past 14 days, including nine-tenths of a cent Tuesday, according to figures from the AAA and the Oil Price Information Service. It rose five consecutive days, dropped a half- cent May 23 and resumed increasing last Wednesday.

The average price is 6.9 cents more than one week ago and 2.5 cents higher than one month ago but $1.198 less than one year ago. It has dropped $1.528 since rising to a record $6.373 on Oct. 5.

The increases are expected to continue because of refinery issues, according to Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.

The national average price dropped three-tenths of a cent for the second consecutive day to $3.576 after rising 3.9 cents over the preceding six days. It is 1.5 cents more than one week ago but 3.5 cents less than one month ago and $1.046 lower than one year ago.

The national average price has dropped $1.44 since rising to a record $5.016 on June 14.

“Gasoline prices have drifted higher in the last week due to some relatively minor refinery kinks and low gasoline supply, but it may not be a trend that lasts too much longer,” De Haan said.

“As we unofficially start the summer driving season, the national average is likely to spend much of the summer in the range of $3.35-$3.85 per gallon, though it could go higher if unexpected refinery outages flare up, or we see a major hurricane or economic development.”

Copyright 2023, City News Service, Inc.

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