The average price of a gallon of self-serve regular gasoline in Riverside County rose Saturday for the 33rd consecutive day and 53rd time in the past 54 days, increasing 1.6 cents to $3.659, its highest amount since Dec. 7, 2019.
The average price has increased 47.9 cents over the past 54 days, including 1.8 cents Friday, according to figures from the AAA and Oil Price Information Service. It is 12.1 cents higher than one week ago, 31.2 cents more than one month ago and 17.9 cents greater than one year ago.
The Texas deep freeze is the latest factor in the rising prices following trader activity in the futures markets and rising crude oil prices.
“While California refineries receive no oil supply from Texas, they do supplement gasoline supply to Arizona, and the Texas refineries’ temporary closure has diverted some California gasoline production to Arizona,” said Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.
“This is likely a temporary issue, but since we are in the typical season of local price increases, we’ll have to see if local demand will support these higher prices when the crisis is over.”
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