Average Riverside County Gas Price Rises to Highest Amount Since Oct. 31

City News Service

RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County rose Wednesday to its highest amount since Oct. 31, increasing 2.7 cents to $5.468.

The average price has increased 47 times in 53 days, rising 62.1 cents, including 3.4 cents Tuesday, according to figures from the AAA and Oil Price Information Service.

The average price is 15.3 cents more than one week ago, 36 cents higher than one month ago and 18.7 cents above what it was one year ago. It has dropped 90.5 cents since rising to a record $6.373 on Oct. 5.

The national average price rose 1.2 cents to $3.848, the sixth 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 4.5 cents more than one week ago and 14.1 cents higher than one year ago but unchanged from one month ago. It has dropped $1.168 since rising to a record $5.016 on June 14, 2022.

“The national average hit some road bumps over the last week after starting to decline early in the week,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.

“The second half saw the national average rise as gas prices in the Corn Belt started spiking, pulling the average price in the U.S. along with it. In addition, the West Coast saw more refinery snags, pushing gas prices higher, and so areas of the West Coast got punched along with the Corn Belt states.

`With most of the nation switching back to cheaper winter gasoline on Saturday, we should see more price decreases for most of the nation in the weeks ahead, barring further refinery disruptions and hurricane season. Fall tends to bring falling gas prices, and I’m hoping this year won’t be any different.”

Copyright 2023, City News Service, Inc.

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