Riverside County’s average price for a gallon of self-serve regular gasoline fell six-tenths of a cent to $5.081 on Sunday, the 19th drop in the past 20 days.
Average prices have fallen 20.9 cents over the past 20 days, including 1.2 cents on Saturday, according to statistics from AAA and the Oil Price Information Service. That’s 8.3 cents less than a week ago, 23.5 cents less than a month ago, but 31.5 cents more than a year ago. Since rising to an all-time high of $6.373 on October 5, 2022, it has fallen $1.292.
The national average price fell for the ninth time in 10 days, dropping two-tenths of a cent to $3.591. It has fallen 5.1 cents over the past 10 days, and fell by four-tenths of a cent on Saturday. The national average price is down 2.8 cents compared to a week ago and 8.8 cents compared to a month ago, but up 5 cents compared to a year ago, reaching a record high of 5.016 on June 14, 2022. It has fallen $1.425 since rising to the dollar.
The main reason for the “glacial decline” in national average prices is “low domestic demand and oil prices below $80 per barrel,” said Andrew Gross, AAA national communications manager.
“Unless something unexpected happens, this subtle decline in pump prices is unlikely to change anytime soon,” Gross said. “There are seven states where the average in-county gas price is less than $3 a gallon. This trend is likely to accelerate as more gas stations east of the Rockies lower prices.”
