The average price of a gallon of self-serve regular gasoline in Riverside County dropped Wednesday for the 16th consecutive day and 29th time in 30 days, decreasing 1.2 cents to $4.972, its lowest amount since March 28.
The average price has dropped 31.8 cents over the past 30 days, including two-tenths of a cent Tuesday, according to figures from the AAA and Oil Price Information Service. It dropped 13 consecutive days, rose six-tenths of a cent May 13 and resumed dropping the next day.
The average price is 7.5 cents less than one week ago but 14.6 cents more than one year ago. It has dropped $1.401 since rising to a record $6.373 on Oct. 5, 2022.
The national average price dropped for the sixth consecutive day, decreasing 1.1 cents to $3.575. It has dropped 4 cents over the past six days following three increases totaling 2.5 cents. It is 3.6 cents less than one week ago, 8.4 cents lower than one month ago and seven-tenths of a cent below what it was one year ago.
The national average price has dropped $1.441 since rising to a record $5.016 on June 14, 2022.
“With the summer driving season now underway, average gas prices have seen ups in some areas and downs in others,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.
“Most states are seeing prices slightly below their 2024 peak thus far, with some refinery issues in the Great Lakes weighing on prices there, while other areas, like the West Coast, have seen notable relief with more coming.
“June tends to be a month of smooth sailing, where we see gas prices decline in most areas, and that’s a trend that looks the most likely for drivers, barring unexpected refinery snags or a tropical storm developing. The national average over Memorial Day was down ever so slightly compared to last year — after adjusting for inflation, prices were down about 10 cents per gallon. Not a terrible way to kick off summer.”