The average price of a gallon of self-serve regular gasoline in Riverside County dropped Friday for the 28th consecutive day, falling 1.8 cents to $5.793, its lowest amount since Sept. 8.
The average price has dropped 53.6 cents over the past 28 days, including 2.2 cents Thursday, 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 13.3 cents less than one week ago and 52.5 cents lower than one month ago, but $1.278 more than one year ago. It has increased $1.242 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 streak of dropping prices began five days after 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.
“Gas prices in California have dropped by more than 40 cents in the past month,” Candace Redd, the Automobile Club of Southern California’s senior public affairs specialist, said in a statement released Thursday.
“Worldwide oil prices have increased in the last two weeks due to continued supply volatility, so it is uncertain how long pump prices will continue to decline if that trend holds.”
The national average price dropped for the sixth consecutive day, decreasing 2.1 cents to $4.204. It has fallen 9.1 cents over the past six days, including 2.2 cents Thursday.
The national average price is 8.8 cents less than one week ago and 23 cents lower than one month ago, but $1.167 more than one year ago. It has increased $1.222 since the attack on Iran.