The average price of a gallon of self-serve regular gasoline in Riverside County set a record Sunday for the 16th consecutive day, rising eight-tenths of a cent to $6.322, extending its streak of increases to 17 consecutive days.
The average price has risen 34.6 cents over the past 17 days, including 1.5 cents Saturday, according to figures from the AAA and the Oil Price Information Service. It is 11.9 cents more than one week ago, 50.9 cents higher than one month ago and $2.151 greater than one year ago.
The average price has risen $1.607 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 six-tenths of a cent to $5.01, its 16th consecutive record and 20th in the last 21 days. It has increased 41.7 cents over the past 21 days, including 1.8 cents Saturday.
The national average is 16.2 cents more than one week ago, 59.2 cents higher than one month ago and $1.933 greater than one year ago.