The average price of a gallon of self-serve regular gasoline in Riverside County dropped Tuesday for the 13th consecutive day Tuesday, falling 1.4 cents to $5.89.
The average price has dropped 17.3 cents over the past 13 days, including six-tenths of a cent Monday, according to figures from the AAA and Oil Price Information Service. It is 11.1 cents less than one week ago and 11.4 cents lower than one month ago, but $1.299 more than one year ago.
The national average price dropped for the 12th consecutive day, falling 3.2 cents to $4.29. It has dropped 27.4 cents over the past 12 days, including 1.4 cents Monday.
The national average price is 20.1 cents less than one week ago and 14.3 cents lower than one month ago but $1.148 more than one year ago.
“Average gasoline prices declined in all 50 states over the last week, with GasBuddy now tracking 15 states where the average price of gasoline has fallen below $4 per gallon, offering motorists some of the most widespread relief seen in weeks,” 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.
“Much of the decline was driven by falling oil prices and the unwinding of recent price cycles, as growing optimism surrounding a potential U.S.-Iran agreement helped ease concerns over global oil supplies.
“However, the coast is anything but clear. Oil prices edged higher Sunday evening as uncertainty surrounding a potential deal persisted and renewed Israeli attacks added another layer of geopolitical risk. While motorists may continue to see some short-term relief, some price-cycling states could soon experience another upward swing as retailers run out of room to lower prices further. Overall, any setback in negotiations could quickly reverse the recent decline in fuel prices.”