Current gas prices likely won’t change much by July 4

Current gas prices in Riverside have risen 1.3 cents per gallon in the past week, averaging $4.14/g today, according to GasBuddy’s daily survey of 481 stations in Riverside. Gas prices in Riverside are 10.6 cents per gallon higher than a month ago and stand $1.24/g higher than a year ago.

According to GasBuddy price reports, the cheapest station in Riverside is priced at $3.55/g today while the most expensive is $4.59/g, a difference of $1.04/g. The lowest price in the state today is $3.31/g while the highest is $6.29/g, a difference of $2.98/g.

The national average price of gasoline has risen 0.6 cents per gallon in the last week, averaging $3.04/g today. The national average is up 8.4 cents per gallon from a month ago and stands $1.02/g higher than a year ago.

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

  • June 7, 2020: $2.90/g (U.S. Average: $2.02/g)
  • June 7, 2019: $3.80/g (U.S. Average: $2.75/g)
  • June 7, 2018: $3.70/g (U.S. Average: $2.94/g)
  • June 7, 2017: $2.98/g (U.S. Average: $2.35/g)
  • June 7, 2016: $2.80/g (U.S. Average: $2.36/g)
  • June 7, 2015: $3.68/g (U.S. Average: $2.76/g)
  • June 7, 2014: $4.09/g (U.S. Average: $3.66/g)
  • June 7, 2013: $3.94/g (U.S. Average: $3.64/g)
  • June 7, 2012: $4.14/g (U.S. Average: $3.56/g)
  • June 7, 2011: $3.94/g (U.S. Average: $3.76/g)

Neighboring areas and their current gas prices:

  • San Bernardino — $4.13/g, up 2.4 cents per gallon from last week’s $4.10/g.
  • Orange County — $4.18/g, up 1.5 cents per gallon from last week’s $4.17/g.
  • Los Angeles — $4.22/g, up 1.1 cents per gallon from last week’s $4.21/g.

“We’re entering our fourth straight week with the national average above the key $3 per gallon level, but while gas prices haven’t broken past the low $3s, they have also failed to decline much from their peak as demand for gasoline continues to push higher as the summer driving season is underway,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “According to GasBuddy data, gasoline demand last week eclipsed the prior week, when millions of Americans were gearing up for Memorial Day travel, not an easy feat, but highlights that economic conditions are ripe for continued growth in demand, contributing to prices holding at high levels. As OPEC has maintained a slow but steady increase in oil production, that additional production is quickly being gobbled up by a global economy that continues to recover. Our current gas prices likely won’t change much by July 4, but remain stubbornly high, barring any major curveballs to supply and demand.”

Image Sources

  • Insane Gas Prices Just Ahead: Shutterstock