Average Riverside County Gas Price Rises to Highest Amount Since Nov. 16

City News Service

RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County rose to its highest amount since Nov. 16 Wednesday, increasing 3 cents to $5.315, after being unchanged two of the previous three days.

The average price was unchanged Sunday and Tuesday and rose four- tenths of a cent Monday, according to figures from the AAA and Oil Price Information Service. It is 4.4 cents more than one week ago, 27.8 cents higher than one month ago and 14.3 cents above what it was one year ago.

The average price has dropped $1.058 since rising to a record $6.373 on Oct. 5.

The national average price dropped for the sixth time in seven days, decreasing eight-tenths of a cent to $3.803. It has dropped 2.4 cents over the past seven days, including two-tenths of a cent Tuesday.

The national average price is 2.6 cents less than one month ago but 2.4 cents more than one year ago. It has dropped $1.213 since rising to a record $5.016 on June 14, 2022.

“The national average fell to its lowest level since July ahead of Labor Day, even as oil prices rose last week to the highest level since last November,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.

“In addition, Hurricane Idalia steered well clear of significant energy infrastructure, leading to zero impact on gas prices. With the switch back to winter gasoline less than two weeks away, we could eventually see more downward pressure on gas prices.”

Copyright 2023, City News Service, Inc.

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