The average price of a gallon of self-serve regular gasoline in Riverside County recorded its largest increase since June 23 Monday, rising six-tenths of a cent to $4.315.
The average price is eight-tenths of a cent more than one week ago but 7.7 cents less than one month ago and 21.8 cents lower than one year ago, according to figures from AAA and the Oil Price Information Service.
The average price has dropped $2.058 since rising to a record $6.373 on Oct. 5, 2022.
The national average price resumed rising, increasing two-tenths of a cent to $3.152, one day after a streak of four consecutive increases totaling 1.6 cents ended with a decrease of two-tenths of a cent.
The national average price is nine-tenths of a cent more than one week ago, unchanged from one month ago and 32.1 cents less than one year ago. It has dropped $1.864 since rising to a record $5.016 on June 14, 2022.
“It was another relatively tame week at the pump, with the national average inching up for the second straight week as oil prices briefly touched the $70 per barrel mark before sliding late in the week on news that OPEC+ will raise oil production again in September,” Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations, said in a statement, referring to the Russia-led group of oil producers.
“While price cycling led gas prices in some states to see double-digit increases or decreases, most saw only modest fluctuations. With OPEC+ now fully restoring production to 2023 levels — and fresh economic concerns arising from a weak jobs report and renewed tariff threats — oil prices may continue to face headwinds, potentially paving the way for a decline in gas prices in the weeks ahead.”