The average price of a gallon of self-serve regular gasoline in Riverside County rose Sunday to its highest amount since Nov. 28, increasing eight-tenths of a cent to $4.95, its eighth consecutive increase.
The average price has risen 10.8 cents over the past eight days, including 2.7 cents Saturday, according to figures from the AAA and the Oil Price Information Service. The streak of increases follows a run of six decreases in seven days totaling 1.7 cents.
The average price is 10.6 cents more than one week ago and 18.6 cents higher than one month ago, but 60.3 cents less than one year ago. It has dropped $1.423 since rising to a record $6.373 on Oct. 5.
The national average price rose for the 12th consecutive day, increasing six-tenths of a cent to $3.752. It has increased 18.9 cents over the past 12 days, including 1.4 cents Saturday.
The national average price is 15.8 cents more than one week ago and 20.9 cents higher than one month ago, but 48 cents less than one year ago. It has dropped $1.264 since rising to a record $5.016 on June 14, 2022.
The increasing gas prices are the result of oil prices rising to their highest levels since April, according to Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.
The cost of oil accounts for more than 50% of the pump price, according to Andrew Gross, an AAA national public relations manager.