The average price of a gallon of self-serve regular gasoline in Riverside County dropped for the 29th consecutive day Saturday, falling 1.7 cents to $5.776.
The average price has dropped 55.3 cents over the past 29 days, including 1.8 cents Friday, 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 12.7 cents less than one week ago and 54.2 cents less than one month ago, but $1.185 more than one year ago. It has increased $1.225 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 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,” Kandace 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 seventh consecutive day, decreasing 2.1 cents to $4.183. It has fallen 11.2 cents over the past seven days, including 2.1 cents Friday.
The national average price is 11.2 cents less than one week ago and 25.1 cents less than one month ago, but $1.143 more than one year ago. It has increased $1.201 since the attack on Iran.