The average price of a gallon of self-serve regular gasoline in Riverside County recorded its largest decrease since July 14 Saturday, dropping 3.6 cents to $6.311.
The decrease was the third straight following a 16-day streak of increases totaling $1.064 that pushed the Riverside County average price to a record high, according to figures from the AAA and the Oil Price Information Service. It dropped three-tenths of a cent Thursday and 2.3 cents Friday.
The average price is a half-cent less than one week ago but $1.103 more than one month ago and $1.961 higher than one year ago.
“We’re starting to see pump prices move lower because refineries that were undergoing maintenance are coming back online, winter-blend fuel, which is cheaper to produce, will enter the market sooner than Nov. 1 and multiple cargoes carrying gasoline products are on their way to California in the coming weeks,” Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, told City News Service.
“All of these factors will put downward pressure on prices at the pump, but we don’t know how much prices will fall or how fast they will fall.”
The national average price rose for the 17th time in 18 days, increasing 1.3 cents to $3.904. The average price has increased 23 cents over the past 18 days, including 2.4 cents Friday. It rose for 11 consecutive days, dropped four-tenths of a cent Sunday and resumed increasing Monday.
The national average price is 10.4 cents more than one week ago, 15.3 cents higher than one month ago and 64.4 cents greater than one year ago.
The national average price is $1.112 less than the record $5.016 set June 14.
The run of increases follows a 98-day streak of decreases totaling $1.342 that began the day after the record was set.