The average price of a gallon of self-serve regular gasoline in Riverside County rose four-tenths of a cent Saturday to $4.77, one day after recording its largest increase since April 8, 1.1 cents.
The average price is 1.1 cents more than one week ago but 8.6 cents less than one month ago and $1.215 lower than one year ago, according to figures from the AAA and the Oil Price Information Service. It has dropped $1.603 since rising to a record $6.373 on Oct. 5.
“It’s typical to see gas prices move higher as we approach big holiday weekends, such as Memorial Day,” Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, told City News Service.
“After three years of the pandemic, the Auto Club anticipates 2.8 million will take road trips next Thursday to Monday, but not everyone travels only during that five-day period. Some people hit the roads early and make a longer vacation out of the Memorial Day holiday and that increased demand for gasoline puts upward pressure on prices.”
The national average price dropped one-tenth of a cent to $3.54, after three consecutive increases totaling 1 cent. It is three-tenths of a cent more than one week ago but 14.6 cents less than one month ago and $1.053 lower than one year ago.
The national average price has dropped $1.476 since rising to a record $5.016 on June 14.