Demand for Gas Pushes Up Gas Prices

Riverside gas prices have risen 1.7 cents per gallon in the past week, averaging $4.27/g today, according to GasBuddy’s daily survey of 481 stations in Riverside. Gas prices in Riverside are 6.2 cents per gallon higher than a month ago due to a demand for gas and stand $1.15/g higher than a year ago.

According to GasBuddy price reports, the cheapest station in Riverside is priced at $3.87/g today while the most expensive is $4.69/g, a difference of 82.0 cents per gallon. The lowest price in the state today is $3.75/g while the highest is $6.29/g, a difference of $2.54/g.

The national average price of gasoline has risen 1.7 cents per gallon in the last week, averaging $3.16/g today. The national average is up 3.8 cents per gallon from a month ago and stands 98.2 cents per gallon higher than a year ago.

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

  • August 2, 2020: $3.11/g (U.S. Average: $2.17/g)
  • August 2, 2019: $3.56/g (U.S. Average: $2.71/g)
  • August 2, 2018: $3.54/g (U.S. Average: $2.87/g)
  • August 2, 2017: $2.87/g (U.S. Average: $2.33/g)
  • August 2, 2016: $2.67/g (U.S. Average: $2.11/g)
  • August 2, 2015: $3.98/g (U.S. Average: $2.65/g)
  • August 2, 2014: $3.92/g (U.S. Average: $3.50/g)
  • August 2, 2013: $3.97/g (U.S. Average: $3.62/g)
  • August 2, 2012: $3.80/g (U.S. Average: $3.53/g)
  • August 2, 2011: $3.78/g (U.S. Average: $3.70/g)

Neighboring areas and their current gas prices:

  • San Bernardino — $4.26/g, up 1.2 cents per gallon from last week’s $4.25/g.
  • Orange County —  $4.34/g, up 2.8 cents per gallon from last week’s $4.31/g.
  • Los Angeles — $4.36/g, up 2.4 cents per gallon from last week’s $4.33/g.

“The downward move in the national average last week was short-lived with the national average rebounding last week on continued strong gasoline demand in the U.S. which has pushed oil prices back up after a brief lull,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “According to GasBuddy data, demand last week set another 2021 high, eclipsing the previous week’s record as we head into the prime of the summer driving season. For the next week or two, we may continue to see gas prices inch higher, but once schools begin re-opening and vacation season ends, we’ll likely see demand trail off, allowing for gas prices to decline gently heading into Labor Day.”

Image Sources

  • Gas prices: Shutterstock