Gas Prices Drop Significantly in Riverside but have long way to go before being ‘normal’

Average gasoline prices in Riverside have fallen 37.4 cents per gallon in the last week, averaging $5.89/g today, according to GasBuddy’s survey of 481 stations in Riverside. Prices in Riverside are 60.1 cents per gallon higher than a month ago and stand $1.55/g higher than a year ago. The national average price of diesel has increased 18.7 cents in the last week and stands at $5.06 per gallon.

According to GasBuddy price reports, the cheapest station in Riverside was priced at $4.89/g yesterday while the most expensive was $6.59/g, a difference of $1.70/g. The lowest price in the state yesterday was $4.59/g while the highest was $7.79/g, a difference of $3.20/g.

The national average price of gasoline has fallen 5.4 cents per gallon in the last week, averaging $3.86/g today. The national average is up 20.6 cents per gallon from a month ago and stands 56.6 cents per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

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

  • October 17, 2021: $4.34/g (U.S. Average: $3.30/g)
  • October 17, 2020: $3.11/g (U.S. Average: $2.16/g)
  • October 17, 2019: $4.12/g (U.S. Average: $2.67/g)
  • October 17, 2018: $3.79/g (U.S. Average: $2.86/g)
  • October 17, 2017: $2.98/g (U.S. Average: $2.45/g)
  • October 17, 2016: $2.75/g (U.S. Average: $2.23/g)
  • October 17, 2015: $2.90/g (U.S. Average: $2.26/g)
  • October 17, 2014: $3.51/g (U.S. Average: $3.13/g)
  • October 17, 2013: $3.73/g (U.S. Average: $3.35/g)
  • October 17, 2012: $4.58/g (U.S. Average: $3.75/g)

Neighboring areas and their current gas prices:

  • San Bernardino — $5.89/g, down 35.7 cents per gallon from last week’s $6.24/g.
  • Orange County — $5.94/g, down 35.6 cents per gallon from last week’s $6.30/g.
  • Los Angeles — $6.02/g, down 34.9 cents per gallon from last week’s $6.37/g.
Hope Surfaces at Regional Gas Stations

Patrick De Haan, head of petroleum analysis at GasBuddy.

“After a sharp rise in the national average over the last few weeks, we’ve seen an abrupt, yet expected decline as refinery issues have eased in the West and Great Lakes, overpowering some increases elsewhere. Though at the same time, diesel prices have soared,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “We’ll see a continued sharp drop in gas prices on the West Coast, including areas like Las Vegas and Phoenix, which are supplied by refiners in California, as refinery outages have been addressed. The Great Lakes will see prices drift lower as BP’s Whiting refinery is soon to complete maintenance. In addition, oil prices have cooled off slightly after OPEC+’s decision to cut production, and that should slow increases elsewhere. Diesel and heating oil prices are likely to continue to rise as extremely low inventories of middle of the barrel products like these two push prices higher.”

Image Sources

  • Patrick DeHaan: GasBuddy
  • California gas prices: Shutterstock