For at least the fourth consecutive week we find gas prices on the higher side
Motorists will find gas prices on the higher side this week. Riverside gas prices have risen 3.8 cents per gallon in the past week, averaging $3.39/g today, according to GasBuddy’s daily survey of 481 stations in Riverside. Gas prices in Riverside are 17.9 cents per gallon higher than a month ago and stand 7.8 cents per gallon lower than a year ago.
According to GasBuddy price reports, the cheapest station in Riverside is priced at $2.92/g today while the most expensive is $3.99/g, a difference of $1.07/g. The lowest price in the state today is $2.43/g while the highest is $5.29/g, a difference of $2.86/g.
The national average price of gasoline has risen 3.7 cents per gallon in the last week, averaging $2.45/g today. The national average is up 13.2 cents per gallon from a month ago and stands 1.6 cents per gallon higher than a year ago.
Historical gasoline prices in Riverside and the national average going back ten years:
- February 8, 2020: $3.46/g (U.S. Average: $2.43/g)
- February 8, 2019: $3.22/g (U.S. Average: $2.29/g)
- February 8, 2018: $3.39/g (U.S. Average: $2.59/g)
- February 8, 2017: $2.84/g (U.S. Average: $2.26/g)
- February 8, 2016: $2.61/g (U.S. Average: $1.73/g)
- February 8, 2015: $2.59/g (U.S. Average: $2.17/g)
- February 8, 2014: $3.60/g (U.S. Average: $3.26/g)
- February 8, 2013: $4.08/g (U.S. Average: $3.57/g)
- February 8, 2012: $3.78/g (U.S. Average: $3.48/g)
- February 8, 2011: $3.38/g (U.S. Average: $3.11/g)
Neighboring areas and their current gas prices:
- San Bernardino — $3.38/g, up 3.1 cents per gallon from last week’s $3.35/g.
- Orange County — $3.47/g, up 2.1 cents per gallon from last week’s $3.45/g.
- Los Angeles — $3.48/g, up 3.9 cents per gallon from last week’s $3.44/g.
“Many factors continue to push oil prices higher, but at the foundation of the rise is the fact that the coronavirus situation continues to improve, pushing global oil demand higher as production continues to lag, pushing U.S. gas prices higher,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “Until OPEC intercedes and raises oil production in the months ahead, motorists should continue to expect rising gas prices, which for the first time some time stand at their highest in over a year, adding misery to the dire economic situation as millions remain jobless. The news won’t likely improve in the months ahead, with continued increases in gas prices as OPEC maintains a tight balance between reduced demand and supply, keeping prices on the higher side.”
- Gas Station: Image by StockSnap from Pixabay