10 Consecutive Weeks of Falling Gas Prices

It’s not your imagination: Falling gas prices are on a roll

Average gasoline prices in Riverside have fallen 6.5 cents per gallon in the last week, averaging $5.15/g today, according to GasBuddy’s survey of 481 stations in Riverside. Prices in Riverside are 54.4 cents per gallon lower than a month ago and stand 89.3 cents per gallon higher than a year ago. The national average price of diesel has declined 6.3 cents in the last week and stands at $4.97 per gallon.

According to GasBuddy price reports, the cheapest station in Riverside was priced at $4.61/g yesterday while the most expensive was $5.99/g, a difference of $1.38/g. The lowest price in the state yesterday was $4.42/g while the highest was $6.99/g, a difference of $2.57/g.

The national average price of gasoline has fallen 5.1 cents per gallon in the last week, averaging $3.86/g today. The national average is down 51.3 cents per gallon from a month ago and stands 72.2 cents per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

Historical gasoline prices in Riverside and the national average going back ten years:

• August 22, 2021: $4.26/g (U.S. Average: $3.14/g)
• August 22, 2020: $3.15/g (U.S. Average: $2.18/g)
• August 22, 2019: $3.48/g (U.S. Average: $2.60/g)
• August 22, 2018: $3.50/g (U.S. Average: $2.82/g)
• August 22, 2017: $2.93/g (U.S. Average: $2.34/g)
• August 22, 2016: $2.61/g (U.S. Average: $2.17/g)
• August 22, 2015: $3.66/g (U.S. Average: $2.62/g)
• August 22, 2014: $3.80/g (U.S. Average: $3.43/g)
• August 22, 2013: $3.81/g (U.S. Average: $3.52/g)
• August 22, 2012: $4.09/g (U.S. Average: $3.71/g)

Neighboring areas and their current gas prices:

• San Bernardino- $5.15/g, down 6.7 cents per gallon from last week’s $5.22/g.
• Orange County- $5.25/g, down 3.6 cents per gallon from last week’s $5.28/g.
• Los Angeles- $5.28/g, down 5.7 cents per gallon from last week’s $5.34/g.

“While some areas saw gas prices rise slightly last week, the national average saw yet another weekly decline, extending the streak to ten straight weeks. The pace of declines is certainly slowing down as oil prices have bounced up slightly, but the West Coast and Northeastern U.S. are areas that still may see gas prices decline, while the South and Midwest see the drop fade and potentially slight increases,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “In addition to falling gasoline prices, the average price of diesel has fallen below $5 per gallon for the first time since March, likely helping to cool off aggressive inflation numbers. Thus far, Mother Nature has spared us from disruptions from hurricanes, but that remains a wildcard as we head into the peak of hurricane season.”