The eighth consecutive decrease dropped the average price of a gallon of self-serve regular gasoline in Riverside County to its lowest amount since Jan. 29 Tuesday with a decrease of 1.1 cents to $4.404.
The average price has dropped 5.5 cents over the past eight days, including four-tenths of a cent Monday, according to figures from the AAA and Oil Price Information Service. It is 3.9 cents less than one week ago, 6.9 cents lower than one month ago and $1.725 below what it was one year ago.
The average price has dropped $1.969 since rising to a record $6.373 on Oct. 5, 2022.
The national average price dropped for the fourth consecutive day after a four-day streak of increases totaling 1.5 cents, decreasing 1.2 cents to $3.204. It has dropped 1.9 cents over the past four days, including two-tenths of a cents on both Sunday and Monday.
The national average price is six-tenths of a cent less than one week ago, 12.9 cents lower than one month ago and 61.1 cents below what it was one year ago. It has dropped $1.812 since rising to a record $5.016 on June 14, 2022.
“Another week brings a mixed bag at the gas pump, with gas prices declining in slightly more than half of U.S. states while others have seen increases due to some refinery snags and maintenance that have emerged, temporarily delaying declines in some areas,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.
“Meanwhile, GasBuddy data shows 18 states with sub-$3 per gallon average gas prices, a count that should certainly rise over the next few weeks. While Hurricane Helene left feet of rain behind and some states are seeing challenges in getting gasoline to stations, the storm did not broadly impact fuel production.
“For now, with oil prices falling back below $70 per barrel, the national average may be a bit stuck in the low $3s until fall maintenance wraps up, which could help bring a sub-$3 national average later this fall.”