Gas prices in Riverside are beginning to sound like a broken record

Like a broken record, Riverside gas prices have risen 0.8 cents per gallon in the past week, averaging $4.61/g today, according to GasBuddy’s daily survey of 481 stations in Riverside. Gas prices in Riverside are 14.9 cents per gallon higher than a month ago and stand $1.52/g higher than a year ago.

According to GasBuddy price reports, the cheapest station in Riverside is priced at $4.15/g today while the most expensive is $4.99/g, a difference of 84.0 cents per gallon. The lowest price in the state today is $3.88/g while the highest is $5.99/g, a difference of $2.11/g.

The national average price of gasoline has fallen 3.4 cents per gallon in the last week, averaging $3.37/g today. The national average is down 1.4 cents per gallon from a month ago and stands $1.26/g higher than a year ago.

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

  • November 29, 2020: $3.10/g (U.S. Average: $2.11/g)
  • November 29, 2019: $3.75/g (U.S. Average: $2.59/g)
  • November 29, 2018: $3.47/g (U.S. Average: $2.48/g)
  • November 29, 2017: $3.14/g (U.S. Average: $2.49/g)
  • November 29, 2016: $2.66/g (U.S. Average: $2.15/g)

Neighboring areas and their current gas prices:

  • San Bernardino — $4.60/g, unchanged  from last week’s $4.60/g.
  • Orange County — $4.68/g, up 1.6 cents per gallon from last week’s $4.67/g.
  • Los Angeles — $4.68/g, unchanged  from last week’s $4.68/g.

“Gas price declines are slowly picking up momentum. With oil’s recent fall and the jury out on a new Covid variant, Omicron, we could be in store for lower prices based on many countries turning back to travel restrictions, limiting oil demand and potentially accelerating the drop in gas prices,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “There remains a very high level of uncertainty ahead of us as OPEC has also delayed its meetings to await more market movements and information on Omicron. But so far, Americans can expect the new variant to push gas prices even lower. Beyond the next few weeks, it remains nearly impossible to predict where oil and gas prices will head, though turbulence is guaranteed.”

Image Sources

  • Man filling gas tank: iStock