The average price of a gallon of self-serve regular gasoline in Riverside County rose for the 12th consecutive day Sunday, increasing 1.2 cents to $2.745.
The average price is 4.6 cents more than one week ago, but one-tenth of a cent less than one month ago and $1.24 cheaper than one year ago, according to figures from the AAA and Oil Price Information Service.
Prior to the current streak, the average price had dropped 58 times in 62 days.
“Vehicle traffic in Southern California has increased incrementally over the past few weeks, and refineries are still producing gasoline at a much lower rate compared to last year to help draw down inventory,” said Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.
“Combine these trends with an increase in oil prices, and the result is that gas prices changed course over the past week and increased.”
Refineries decreased production because “demand evaporated in late March and April” as driving reduced because of Gov. Gavin Newsom’s stay-at-home order, Spring said.
“If refiners had continued at higher capacity that they were running at, they would have soon run out of storage capacity, because few people were buying gasoline,” Spring told City News Service. “Reduced production reduces inventory and helps to balance out the system.”
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