The average price of a gallon of self-serve regular gasoline in Riverside County fell 1.1 cents to $4.515, the seventh decrease in eight days.
The average price has decreased 6 cents over the past eight days, including two-tenths of a cent Monday, according to figures from the AAA and the Oil Price Information Service. It decreased five consecutive days, increased four-tenths of a cent Sunday and resumed dropping Monday.
The average price is 5 cents less than one week ago and 8.7 cents lower than one month ago but 10.5 cents more than one year ago. It has dropped $1.858 since rising to a record $6.373 on Oct. 5, 2022.
The national average price dropped for the fifth consecutive day, decreasing eight-tenths of a cent to $3.044. It has dropped 2.7 cents over the past five days, including one-tenth of a cent Monday.
The decreases follow a three-day streak of increases totaling 3.4 cents.
The national average price is of a four-tenths of a cent less than one week ago, 8.9 cents lower than one month ago and 8.6 cents below what it was one year ago. It has dropped $1.972 since rising to a record $5.016 on June 14, 2022.
“The possibility of a U.S.-China trade deal could lift oil prices on optimism that it would increase trade and reduce tariffs — potentially keeping the national average slightly above the $3-per-gallon mark for a couple more weeks before slipping back below $3 ahead of Thanksgiving,” Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations, said in a statement released Monday.