The average price of a gallon of self-serve regular gasoline in Riverside County rose for the eighth consecutive day Saturday, increasing 1.7 cents to $4.542.
The average price has risen 18 cents over the past eight days, including 3.1 cents Friday and 4.2 cents Thursday. Prior to that it decreased 10 times in 11 days, dropping to its lowest amount since Dec. 31, 2022, according to figures from the AAA and Oil Price Information Service.
The average price is 17.4 cents more than one week ago, 6.1 cents less than one month ago, and 7.1 cents more than one year ago. It has dropped $1.831 since rising to a record $6.373 on Oct. 5, 2022.
“The Kinder Morgan gasoline pipeline servicing Southern California on Wednesday began shipping the more expensive summer blend of gasoline, which is required to be sold in most local areas as of April 1,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.
“The switch generally increases costs at the pump, and additional increases typically occur in February through May if there are supply shortages caused by planned or unplanned local refinery outages as they undergo annual maintenance.”
A five-day streak of increases to the national average price ended Saturday when it decreased four-tenths of a cent to $3.15. It is 4.7 cents more than one week ago and 5.6 cents more than one month ago, but 34.1 cents less than one year ago. The national average has dropped $1.866 since rising to a record $5.016 on June 14, 2022.
“We are in that time of year where pump prices begin to heat up, usually peaking around July,” said Andrew Gross, an AAA national public relations manager. “But unless something shocks the global oil market and causes prices to spike, the national average for a gallon of gas will probably stagger higher, with some flat days or even small price dips along the way.”