Gas Prices Decline for Fourth Consecutive Week

For at least the fourth consecutive week, Riverside gas prices have fallen 2.5 cents per gallon in the past week, averaging $3.56/g today, according to GasBuddy’s daily survey of 481 stations.

Gas prices in Riverside are 9.2 cents per gallon lower than a month ago, yet stand 4.2 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Riverside is priced at $3.16/g today while the most expensive is $4.19/g, a difference of $1.03/g. The lowest price in the state today is $2.83/g while the highest is $5.09/g, a difference of $2.26/g. The cheapest price in the entire country today stands at $1.97/g while the most expensive is $5.09/g, a difference of $3.12/g.

The national average price of gasoline has fallen 2.6 cents per gallon in the last week, averaging $2.70/g today. The national average is down 5.6 cents per gallon from a month ago, yet stands 15.8 cents per gallon lower than a year ago.

Historical gasoline prices in Riverside and the national average going back a decade:

• August 5, 2018: $3.51/g (U.S. Average: $2.86/g)
• August 5, 2017: $2.89/g (U.S. Average: $2.34/g)
• August 5, 2016: $2.64/g (U.S. Average: $2.12/g)
• August 5, 2015: $3.89/g (U.S. Average: $2.63/g)
• August 5, 2014: $3.90/g (U.S. Average: $3.48/g)
• August 5, 2013: $3.95/g (U.S. Average: $3.60/g)
• August 5, 2012: $3.81/g (U.S. Average: $3.61/g)
• August 5, 2011: $3.77/g (U.S. Average: $3.69/g)
• August 5, 2010: $3.11/g (U.S. Average: $2.75/g)
• August 5, 2009: $2.93/g (U.S. Average: $2.58/g)

Neighboring areas and their current gas prices:

• San Bernardino — $3.56/g, down 3.6 cents per gallon from last week’s $3.60/g.
• Orange County — $3.66/g, down 1.1 cents per gallon from last week’s $3.67/g.
• Los Angeles — $3.65/g, down 3.2 cents per gallon from last week’s $3.69/g.

“Gas prices have remained somewhat stable in the last week, falling in most communities across the country as oil prices remain under fire over renewed concerns of an economic slowdown in the U.S. as President Trump slapped China with new sanctions, driving the worry,” Patrick DeHaan, head of petroleum analysis at GasBuddy, said in a prepared statement. “There’s a growing threat that gas prices may plunge this fall- perhaps as much as 50 cents per gallon by Thanksgiving- as headwinds have killed off any demand growth and gasoline demand plummets after summer. It appears less and less likely that the trade spat between the world’s two largest economies will cease any time soon, and that threat will likely stifle gas prices for the immediate future.”

For LIVE fuel price averages, click here.