The average price of a gallon of self-service regular gasoline in Riverside County dropped Tuesday to its lowest amount since July 14, 2021, decreasing six-tenths of a cent to $4.26, one day after rising a half-cent.
The average price has dropped 15 of the past 17 days, decreasing 7.6 cents, according to figures from the AAA and Oil Price Information Service. It dropped 11 consecutive days, rose two-tenths of a cent Thursday and resumed dropping Friday.
The average price is 2 cents less than one week ago, 6.6 cents lower than one month ago and 31.1 cents below what it was one year ago, according to figures from the AAA and Oil Price Information Service. It has dropped $2.112 since rising to a record $6.373 on Oct. 5, 2022.
The national average price rose six-tenths of a cent to $3.03, a day after increasing one-tenth of a cent. It is 1.9 cents more than one week ago, but 4.2 cents less than one month ago and 3.8 cents lower than one year ago.
The national average price has dropped $1.986 since rising to a record $5.016 on June 14, 2022.
“As we edge closer to the end of the year, we’re seeing momentum for falling gas prices weaken, which is typical as the national average generally bottoms out between Thanksgiving and Christmas,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.
“With oil prices rising back above $70 last week, gas prices may have less potential to drop much further, though there may be a second window of lower prices in January or February in some areas, but even that won’t last long.
“While several states saw gas prices cycle last week, marked by a big jump in prices after a large decline, those that did see hefty jumps should see prices drift a bit lower, potentially making a second run at the season’s lowest prices. The West Coast, including California, should continue to see prices drift lower.”