Gas Prices Move Higher to Follow Rising Price of Crude Oil

Riverside gas prices move higher, rising 0.8 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 3.3 cents per gallon higher than a month ago and stand 35.9 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Riverside is priced at $2.68/g today while the most expensive is $3.79/g, a difference of $1.11/g. The lowest price in the state today is $2.39/g while the highest is $4.99/g, a difference of $2.60/g.

The national average price of gasoline has risen 0.7 cents per gallon in the last week, averaging $2.25/g today. The national average is up 13.8 cents per gallon from a month ago and stands 32.6 cents per gallon lower than a year ago.

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

  • December 28, 2019: $3.49/g (U.S. Average: $2.57/g)
  • December 28, 2018: $3.27/g (U.S. Average: $2.27/g)
  • December 28, 2017: $3.06/g (U.S. Average: $2.48/g)
  • December 28, 2016: $2.68/g (U.S. Average: $2.30/g)
  • December 28, 2015: $2.95/g (U.S. Average: $2.00/g)
  • December 28, 2014: $2.61/g (U.S. Average: $2.28/g)
  • December 28, 2013: $3.62/g (U.S. Average: $3.30/g)
  • December 28, 2012: $3.55/g (U.S. Average: $3.28/g)
  • December 28, 2011: $3.53/g (U.S. Average: $3.24/g)
  • December 28, 2010: $3.28/g (U.S. Average: $3.04/g)

Neighboring areas and their current gas prices:

  • San Bernardino — $3.11/g, up 1.7 cents per gallon from last week’s $3.10/g.
  • Orange County — $3.18/g, up 1.7 cents per gallon from last week’s $3.17/g.
  • Los Angeles — $3.19/g, up 1.6 cents per gallon from last week’s $3.17/g.

“Average gasoline prices continue to move higher in most areas as retail gas prices continue to follow the rising price of crude oil which remains near the highest level since COVID-19 began in March,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “Seasonal factors have sat in the backseat compared to a modest recovery in demand and a healthy dose of optimism that a COVID-19 vaccine will bring normal demand levels in the coming year. For now, it’s not the best news for motorists as I expect gas prices may continue their ascent, but while it won’t last forever, its likely a sign of what’s to come in 2021- higher prices. The year ahead will be likely marked by recovery in the pandemic and rising demand, and for motorists interested in what’s coming to the pump GasBuddy will be releasing our 2021 Fuel Price Outlook in the days ahead, which will hopefully give motorists some idea of what to plan for in terms of pain at the pump.”


Image Sources

  • Gas prices: Shutterstock