Gas Prices on a Bumpy Roller Coaster Ride

Ups an downs of gas prices resemble a roller coaster ride

For at least six consecutive weeks, gas prices steadily climbed, similar to a roller coaster ride. Then, they dipped a bit and are now climbing again.

Riverside gas prices have risen 0.8 cents per gallon in the past week, averaging $3.91/g today, according to GasBuddy’s daily survey of 481 stations in Riverside. Gas prices in Riverside are 12.1 cents per gallon higher than a month ago and stand $1.11/g higher than a year ago.

According to GasBuddy price reports, the cheapest station in Riverside is priced at $3.25/g today while the most expensive is $4.61/g, a difference of $1.36/g. The lowest price in the state today is $3.09/g while the highest is $5.79/g, a difference of $2.70/g.

The national average price of gasoline has fallen 2.1 cents per gallon in the last week, averaging $2.85/g today. The national average is down 0.5 cents per gallon from a month ago and stands $1.02/g higher than a year ago.

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

• April 12, 2020: $2.80/g (U.S. Average: $1.83/g)
• April 12, 2019: $3.96/g (U.S. Average: $2.83/g)
• April 12, 2018: $3.50/g (U.S. Average: $2.70/g)
• April 12, 2017: $2.97/g (U.S. Average: $2.41/g)
• April 12, 2016: $2.81/g (U.S. Average: $2.06/g)
• April 12, 2015: $3.11/g (U.S. Average: $2.39/g)
• April 12, 2014: $4.14/g (U.S. Average: $3.63/g)
• April 12, 2013: $4.03/g (U.S. Average: $3.55/g)
• April 12, 2012: $4.24/g (U.S. Average: $3.90/g)
• April 12, 2011: $4.15/g (U.S. Average: $3.79/g)

Neighboring areas and their current gas prices:

• San Bernardino — $3.88/g, down 0.5 cents per gallon from last week’s $3.89/g.
• Orange County — $3.94/g, down 1.2 cents per gallon from last week’s $3.95/g.
• Los Angeles — $3.95/g, down 0.7 cents per gallon from last week’s $3.96/g.

“It has been a fairly tame last few weeks at the pump for most areas after a particularly active February and March when prices were screaming higher,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “After surging back then, we’ve seen the price increases fade, and while we haven’t seen much of a decline, prices have been holding near their yearly highs. For now, it feels like the risk of seeing the national average climb to $3/gal has been delayed by a recent surge in COVID-19 cases both here and abroad, limiting the upside to gasoline demand, but should things begin to improve, especially as we get closer to the start of the summer, we still have potential to see summer gas prices at their highest levels in years. Make no mistake, gas prices this year will be tied to the hip of the COVID situation.”