RIVERSIDE —Fuel prices in Riverside have risen 1.2 cents per gallon in the past week, averaging $3.51 per gallon Monday, according to GasBuddy’s daily survey of 481 stations in Riverside. This compares with the national average that has fallen 1.4 cents per gallon versus last week to $2.82 per gallon, according to GasBuddy.
Average fuel prices on Sept. 4 in Riverside have ranged widely over the last five years: $3.06 per gallon in 2017, $2.65 per gallon in 2016, $3.41 per gallon in 2015, $3.76 per gallon in 2014 and $3.82 per gallon in 2013.
Including the change locally during the past week, fuel prices Monday were 45.0 cents per gallon higher than a year ago and are 2.0 cents per gallon lower than a month ago. The national average has dropped 4.4 cents per gallon during the last month and stands 18.3 cents per gallon higher than a year ago.
Areas near Riverside and their current fuel price climate:
- San Bernardino — $3.51 per gallon, up 2.4 cents per gallon from last week’s $3.49 per gallon.
- Orange County — $3.59 per gallon, up 2.5 cents per gallon from last week’s $3.57 per gallon.
- Los Angeles — $3.64 per gallon, up 1.9 cents per gallon from last week’s $3.62 per gallon.
“We’ve closed the door on the most expensive summer at the pump since 2014, finishing the period from Memorial Day to Labor Day with an average of $2.87 per gallon, a full 55 cents higher than last summer, but still 71 cents per gallon cheaper than 2014,” Patrick DeHaan, head of petroleum analysis for GasBuddy, said in a prepared statement.
Much of the blame for the summer’s higher fuel prices can be blamed on OPEC’s long-term decision to cut oil production to better balance supply and demand, pushing prices higher, according to DeHaan.
Now that summer is over, fuel prices are likely to seasonally decline by the end of the year, but with Tropical Storm Gordon likely to impact the sensitive Gulf Coast region, gas prices may move higher before we see the seasonal down trend emerge. We’re carefully watching the storm for possible disruptions to refineries and gas stations, and will continue to do so until hurricane season ends, DeHaan said.
“Motorists in affected regions can download the GasBuddy app as we’ll continue to work around the clock updating motorists, helping them escape major events like this one,” he added.
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