The fourth consecutive decrease Friday dropped the average price of a gallon of self-serve regular gasoline in Riverside County to its lowest amount since March 25.
The average price decreased seven-tenths of a cent Friday to $3.479, 1.5 cents less than one week ago and 2.9 cents lower than one month ago, according to figures from the AAA and Oil Price Information Service. However, the average price is 32.2 cents more than one year ago.
The average price has dropped 1.7 cents over the past four days, including four-tenths of a cent Thursday, after rising two-tenths of a cent each of the previous two days.
“While concerns about the coronavirus are pushing down demand for oil and gasoline nationwide, locally our gas prices are more affected by the performance of our refineries,” said Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.
“Once gas stations start selling the more expensive summer blend of gasoline, which will happen over the next couple of weeks, we could see price increases that reflect both the increased production costs and the constrained supply if these unplanned refinery issues aren’t quickly resolved.”