The average price of a gallon of self-serve regular gasoline in Riverside County dropped Sunday for the fourth consecutive day, decreasing six-tenths of a cent to $6.012.
The average price has dropped 5.1 cents over the past four days, including 2.2 cents Saturday, according to figures from the AAA and Oil Price Information Service. It is 4.9 cents less than one week ago, but 18.2 cents more than one month ago and $1.354 higher than a year ago.
The average price has risen $1.457 since the joint U.S./Israel attack on Iran on Feb. 28, moving within 36.1 cents of the record $6.373 set on Oct. 5, 2022.
The national average price dropped 1.4 cents to $4.515, one day after recording its largest decrease in more than a year, 2.3 cents. It is two-tenths of a cent more than one week ago, 45.6 cents higher than one month ago and $1.328 more than one year ago.
The national average price has risen $1.533 since the attack on Iran, moving within 50.1 cents of the record $5.016 set June 14, 2022.
Prices could be in line to drop more substantially after reports this weekend that the United States and Iran are nearing a deal to end the conflict and reopen the Strait of Hormuz.
“Gas prices are currently falling but until we see an agreement signed and a significant amount of ships transit through the Strait, the national average price of gasoline will likely remain well above $4/gal,” according to Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.
“Only once we start seeing confidence and ships move will prices plummet,” he added.