The average price of a gallon of self-serve regular gasoline in Riverside County dropped Monday for the 11th time in 12 days, decreasing three-tenths of a cent to $5.764.
The average price has dropped 11.9 cents over the past 12 days, including 1 cent Sunday, according to figures from the AAA and Oil Price Information Service. It dropped four consecutive days, rose two-tenths of a cent last Monday and resumed dropping Tuesday.
The average price is 5.8 cents less than one week ago, but 14 cents more than one month ago and $1.054 higher than one year ago. It is 60.9 cents less than the record $6.373 set Oct. 5, 2022.
Prices were rising slightly in line with seasonal norms before the joint U.S./Israel attack on Iran Feb. 28 sent oil prices higher and drastically accelerated increases at the gas pump. Prices began to fall slightly after the announcement of a cease fire April 7, though subsequent peace talks in Pakistan failed to produce a deal.
The national average price dropped for the 10th time in 11 days, decreasing six-tenths of a cent to $4.042. It dropped three consecutive days, was unchanged last Monday and resumed falling Tuesday. It has decreased 12.4 cents over the past 11 days, including 1 cent Sunday.
The national average price is 8.3 cents less than one week ago, but 13 cents more than one month ago and 89.1 cents higher than one year ago. It is 97.4 cents less than the record $5.016 set June 14, 2022.
Gas prices are likely to start rising Monday afternoon after sharp increases to the price of West Texas Intermediate Crude Oil on commodity exchanges, Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations, wrote on the social platform X Sunday.