Auto Club: Record Number of Southern Californians Will Travel During Year-End Holidays Thanks in Part to Dropping Gas Prices for 13 Weeks and Counting
For the 13th consecutive week, average gasoline prices in Riverside have fallen 7.6 cents per gallon in the last week, averaging $4.51/g today, according to GasBuddy’s survey of 481 stations in Riverside. Prices in Riverside are 33.0 cents per gallon lower than a month ago and stand 27.3 cents per gallon higher than a year ago.
The national average price of diesel has fallen 9.2 cents in the last week and stands at $3.99 per gallon.
That’s good news and bad: The Automobile Club of Southern California predicts 9.5 million Southern Californians will travel during the year-end holiday period this year – a 3% increase from last year and a 2% increase from 2019, the last year-end holiday period before the pandemic. Across the nation, AAA is projecting this year-end holiday travel period to be the second busiest on record, with 115.2 million travelers expected compared to 119.3 million in 2019.
According to GasBuddy price reports, the cheapest station in Riverside was priced at $3.89/g yesterday while the most expensive was $5.29/g, a difference of $1.40/g. The lowest price in the state yesterday was $3.34/g while the highest was $7.79/g, a difference of $4.45/g.
The national average price of gasoline has fallen 8.6 cents per gallon in the last week, averaging $3.03/g today. The national average is down 26.9 cents per gallon from a month ago and stands 6.8 cents per gallon lower 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.
“As the nation’s average price of gasoline has fallen for the 13th straight week, we’re on the cusp of potentially seeing a $2.99 per gallon average for the first time in years, most welcome just in time for the Christmas holiday,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While the declines may soon come to an end as the price of oil has rebounded from recent lows, we could see a gentler 2024 at the pump for motorists. Gasoline could see its average fall below $3 this week while the price of diesel has just fallen below $4 for the first time since July, also very welcome news for the economy as nearly all goods are impacted by the price of diesel. All in all, the news continues to be good in terms of fuel prices as we enter into the closing innings of 2023. GasBuddy will be releasing full details on the year ahead in the coming weeks, giving motorists valuable insight on what to expect in 2024.”
- Patrick DeHaan: GasBuddy
- Gas prices: Cindy Uken