RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County dropped Tuesday for the 18th consecutive day, decreasing 4.1 cents to $5.598
The average price has dropped 55.3 cents over the past 18 days, including one-tenth of a cent Monday, according to figures from the AAA and Oil Price Information Service.
The decreasing prices follow a run of 22 increases in 24 days totaling 86.6 cents that boosted the average price to its highest amount since Oct. 12, 2022.
The average price is 19.1 cents less than one week ago, 9.4 cents lower than one month ago and 40 cents below what it was one year ago. It has dropped 77.5 cents since rising to a record $6.373 on Oct. 5, 2022.
“What we are experiencing is prices are returning to a more normal state after the big price spike caused by the summer blend shortage,” Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, told City News Service.
“Now that winter-blend is being sold we anticipate prices to continue to move lower.”
The national average price dropped for the 19th consecutive day and 27th time in 29 days, decreasing 1.6 cents to $3.584. It has dropped 29.7 cents over the past 29 days, including one-tenth of a cent Monday.
The national average price is 9.8 cents less than one week ago, 29.2 cents less than one month ago and 30.4 cents less than one year ago. It has dropped $1.432 since rising to a record $5.016 on June 14, 2022.
Copyright 2023, City News Service, Inc.
