Gas Prices Fall Nearly 2 Cents in Past Week

It’s been a fairly quiet week for gas prices yet again

Riverside gas prices have fallen 1.7 cents per gallon in the past week, averaging $3.13/g today, according to GasBuddy’s daily survey of 481 stations. Gas prices in Riverside are 2.7 cents per gallon lower than a month ago and stand 103.8 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Riverside is priced at $2.43/g today while the most expensive is $3.49/g, a difference of $1.06/g. The lowest price in the state today is $2.39/g while the highest is $4.25/g, a difference of $1.86/g.

The national average price of gasoline has fallen 0.7 cents per gallon in the last week, averaging $2.17/g today. The national average is down 4.3 cents per gallon from a month ago and stands 49.0 cents per gallon lower than a year ago.

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

• October 5, 2019: $4.16/g (U.S. Average: $2.66/g)
• October 5, 2018: $3.76/g (U.S. Average: $2.91/g)
• October 5, 2017: $3.02/g (U.S. Average: $2.50/g)
• October 5, 2016: $2.76/g (U.S. Average: $2.25/g)
• October 5, 2015: $2.94/g (U.S. Average: $2.29/g)
• October 5, 2014: $3.63/g (U.S. Average: $3.29/g)
• October 5, 2013: $3.82/g (U.S. Average: $3.34/g)
• October 5, 2012: $4.49/g (U.S. Average: $3.79/g)
• October 5, 2011: $3.79/g (U.S. Average: $3.39/g)
• October 5, 2010: $2.97/g (U.S. Average: $2.72/g)

Neighboring areas and their current gas prices:

• San Bernardino — $3.12/g, down 2.2 cents per gallon from last week’s $3.14/g.
• Orange County — $3.15/g, down 1.6 cents per gallon from last week’s $3.17/g.
• Los Angeles — $3.17/g, down 1.6 cents per gallon from last week’s $3.19/g.

“It’s been a fairly quiet week for gas prices yet again, but with oil tanking last week, there’s a possibility motorists may see a renewed downward direction in average prices in the days or weeks ahead,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “However, according to Pay with GasBuddy data, gasoline demand inexplicably rose last week to the highest level since August, breaking with conventional wisdom that fall demand is typically weak. While we have no direct reasoning for the rebound, five of seven days last week saw much above the prior week’s gasoline demand, in fact, Friday saw the highest gasoline demand since Labor Day. If demand continues to somehow defy such conventional trends, we may see an end to the possibility of future declines.”