The average price of a gallon of self-serve regular gasoline in Riverside County rose three-tenths of a cent Saturday to $4.557, its highest amount since June 4.
The average price has risen eight consecutive days, increasing 7.8 cents, including eight-tenths of a cent Friday, according to figures from the AAA and the Oil Price Information Service. The average price is 6.4 cents more than one week ago, 24.8 cents more than one month ago and 6.5 cents more than one year ago. It has dropped $1.816 since rising to a record $6.373 on Oct. 5, 2022.
“Oil Price Information Service reports that Los Angeles wholesale gasoline prices shot up late last week after some supply fluctuations, but have dropped a bit in recent days, so the upward price trend at the pump may not last,” Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, said in a statement.
The national average price dropped 1 cent to $3.178. It is 2.2 cents less than one week ago, 2.3 cents more than one month ago, and 5.2 cents less than one year ago. The national average price has dropped $1.838 since rising to a record $5.016 on June 14, 2022.
“As drivers settle into their fall routines, gas demand is going down, and eventually, pump prices should follow suit. … There remains an abundance of crude oil supply which is outweighing demand. The seasonal transition to winter-blend gasoline — which is cheaper to produce — is also beginning,” the AAA said in a statement Thursday.