The average price of a gallon of self-serve regular gasoline in Riverside County dropped Thursday for the 20th consecutive day, falling 4.1 cents to $5.953.
The average price has dropped 37.6 cents over the past 20 days, including 2.5 cents Wednesday, according to figures from the AAA and Oil Price Information Service. The streak began one day after the end of a 44-day streak of increases totaling 80.9 cents that brought the average price within 4.4 cents of its record, $6.373 set Oct. 5, 2022.
The average price is 16.9 cents less than one week ago and 17.9 cents lower than one month ago, but $1.399 more than one year ago. It has increased $1.402 since the start of the joint U.S./Israel war on Iran on Feb. 28, which sent oil prices higher and drastically accelerated increases at the gas pump.
The dropping prices are the result of Gov. Gavin Newsom’s announcement Sept. 28 that cheaper winter-blend gasoline would be allowed to be sold immediately instead of the customary Nov. 1 date.
“Early sales of winter blend gasoline are continuing to help push down California gas prices,” Kandace Redd, the Automobile Club of Southern California’s senior public affairs specialist, said in a statement.
“While the state still has the most expensive gas prices in the nation, many more local metropolitan areas could see their pump price averages drop below $6 a gallon in the next week or two if the current pace of price decline continues.”
A run of 11 decreases in 12 days to the national average price totaling 10.7 cents ended with an increase of six-tenths of a cent to $4.27. It dropped five consecutive days, rose one-tenth of a cent last Thursday and resumed decreasing the following day.
The national average price is 6.4 cents less than one week ago and 20.5 cents lower than one month ago, but $1.205 more than one year ago. It has increased $1.288 since the attack on Iran.