The average price of a gallon of self-serve regular gasoline in Riverside County rose Sunday to a record for the second consecutive day, increasing 1.8 cents to $6.023, one day after surpassing $6 for the first time with an increase of 2.5 cents.
The average price is 3.3 cents more than one week ago, 29.8 cents more than one month ago and $1.894 higher than one year ago, according to figures from the AAA and the Oil Price Information Service. It has risen $1.308 since Russia’s invasion of Ukraine on Feb. 24 “sent shock waves through the oil market that have kept oil costs elevated,” said Andrew Gross, an AAA national public relations manager.
Crude oil costs account for slightly more than half of the pump price, according to the U.S. Energy Information Administration.
The rest of the price includes the other components of gasoline, production costs, distribution costs, overhead costs for all involved in production, distribution and sales, taxes and carbon offset fees in California paid by the refineries.
The national average price rose nine-tenths of a cent to a record $4.61. The national average has set records 17 of the past 20 days.