The average price of a gallon of self-serve regular gasoline in Riverside County dropped for the third consecutive day Sunday following a run of 34 increases in 37 days, decreasing one-tenth of a cent to $4.867.
The average price is 2.7 cents more than one week ago and 30.1 cents higher than one month ago, but 84.9 cents less than one year ago, according to figures from the AAA and Oil Price Information Service. It has dropped $1.506 since rising to a record $6.373 on Oct. 5, 2022.
The national average price decreased two-tenths of a cent to $3.472, one day after a 10-day streak of increases ended when it was unchanged. The national average price is 7 cents more than one week ago and 5.3 cents higher than one month ago, but 85.4 cents less than one year ago. It has dropped $1.544 since rising to a record $5.016 on June 14.
“Less expensive oil and fewer people fueling usually combine to lower pump prices,” said Andrew Gross, an AAA national public relations manager. “However, there is some upward pricing pressure at the moment due to the switch to summer blend gasoline, which may add about 5 to 10 cents per gallon. But if demand and oil costs remain low, this recent price bounce may fade.”