Average Riverside County Gas Price Rises to Highest Amount Since Nov. 1

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. 1 Tuesday, increasing 3.4 cents to $5.441.

The average price has increased 46 times in 52 days, rising 59.4 cents, including 1.1 cents Monday, according to figures from the AAA and Oil Price Information Service.

The average price is 15.6 cents more than one week ago, 34.2 cents higher than one month ago and 17.9 cents above what it was one year ago. It has dropped 93.2 cents since rising to a record $6.373 on Oct. 5.

The recent sharp increases are the result of “continued low inventory of California unleaded gasoline,” according to Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.

“For the second week in a row, the refineries reported lower stocks of it to the California Energy Commission, and wholesale prices zoomed up on Friday yet again but came back down somewhat (Monday),” Shupe told City News Service.

“Two gasoline-producing refineries in Los Angeles have ongoing flaring events, indicating they are undergoing maintenance. Tesoro in Carson has a flaring event that has been going on for about two weeks with a brief interruption, and Ultramar in Wilmington reportedly has been flaring since Aug. 21.”

The national average price rose a four-tenths of a cent to $3.836, the fifth consecutive increase since a run of six decreases in seven days totaling 2.4 cents ended Thursday when it was unchanged.

The national average price is 2.5 cents more than one week ago and 12 cents higher than one year ago but 1 cent less than one month ago. It has dropped $1.18 since rising to a record $5.016 on June 14, 2022.

Copyright 2023, City News Service, Inc.

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