Five weeks. That’s right. For the fifth consecutive weeks gas prices have dipped slightly or fallen.
They are at their lowest point in 110 days.
Just in time for Christmas, average retail gasoline prices in Riverside have fallen 3.5 cents per gallon in the past week, averaging $3.05 per gallon on Sunday, according to GasBuddy’s daily survey of 481 gas outlets in Riverside. This compares with the national average that has fallen 3.3 cents per gallon in the last week to $2.41 per gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Riverside during the past week, prices yesterday were 40.7 cents per gallon higher than the same day one year ago and are 14.1 cents per gallon lower than a month ago. The national average has decreased 12.9 cents per gallon during the last month and stands 17.3 cents per gallon higher than this day one year ago.
According to GasBuddy historical data, gasoline prices on December 18 in Riverside have ranged widely over the last five years:
- $2.64 per gallon in 2016,
- $2.67 per gallon in 2015,
- $2.76 per gallon in 2014,
- $3.58 per gallon in 2013 and
- $3.57 per gallon in 2012.
Areas near Riverside and their current gas price climate:
- San Bernardino- $3.03 per gallon, down 5.5 cents per gallon from last week’s $3.09 per gallon.
- Orange County- $3.05 per gallon, down 4.6 cents per gallon from last week’s $3.09 per gallon.
- Los Angeles- $3.10 per gallon, down 4.4 cents per gallon from last week’s $3.15 per gallon.
“As we approach Christmas, average gas prices in the U.S. have fallen to their lowest point in 110 days, just as Hurricane Harvey began causing prices to spike, not exactly the Christmas gift some hoped for, but it’s about time nonetheless,” Patrick DeHaan, head of petroleum analysis for GasBuddy, said in a prepared statement. “As long as demand for gasoline continues to weaken, gasoline inventories will continue growing and it’ll be the gift that keeps on giving. In addition, the gap between prices today and a year ago is also at its narrowest in months, highlighting that prices are moving in the right direction for many. As we look towards our annual Fuel Outlook being released just after the New Year, there are some bright spots along with some concerns that lay ahead for 2018.”
For LIVE fuel price averages, visit HERE.