The average price of a gallon of self-serve regular gasoline in Riverside County dropped for the third consecutive day Saturday, decreasing 1.6 cents to $4.698.
The average price is nine-tenths of a cent less than one week ago, 27.4 cents less than one month ago and 7 cents less than one year ago, according to figures from the AAA and Oil Price Information Service. It has dropped $1.675 since rising to a record $6.373 on Oct. 5, 2022.
“Local gas supplies appear to be tightening again after more than two months of price drops,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.
“The Auto Club is projecting that more than five million Southern Californians will start heading out of town beginning this Saturday for Independence Day holiday getaways, so that fuel demand is likely helping to push up pump prices.”
The national average price dropped seven-tenths of a cent to $3.496. It is 4.5 cents more than one week ago, but 7.9 cents less than one month ago and 5.3 cents lower than one year ago. It has dropped $1.52 since rising to a record $5.016 on June 14, 2022.
“Summer got off to a slow start last week with low gas demand,” said Andrew Gross, an AAA national public relations manager. “But with a record 60 million travelers forecast to hit the road for the July 4th holiday, that number could pop over the next 10 days. But will oil stay above $80 a barrel, or will it sag again? Stay tuned.”