Average retail gasoline prices in Riverside have risen 3.2 cents per gallon in the past week, averaging $3.36 per gallon on Sunday, according to GasBuddy’s daily survey of 481 gas outlets in Riverside. This compares with the national average that has increased 1.9 cents per gallon in the last week to $2.60 per gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Riverside during the past week, prices yesterday were 53.7 cents per gallon higher than the same day one year ago and are 24.0 cents per gallon higher than a month ago. The national average has increased 11.2 cents per gallon during the last month and stands 34.0 cents per gallon higher than this day one year ago.
According to GasBuddy historical data, gasoline prices on February 5 in Riverside have ranged widely over the last five years: $2.83 per gallon in 2017, $2.65 per gallon in 2016, $2.47 per gallon in 2015, $3.56 per gallon in 2014 and $3.99 per gallon in 2013.
Areas near Riverside and their current gas price climate:
- San Bernardino- $3.34 per gallon, up 4.9 cents per gallon from last week’s $3.29 per gallon.
- Orange County- $3.42 per gallon, up 4.2 cents per gallon from last week’s $3.38 per gallon.
- Los Angeles- $3.44 per gallon, up 2.2 cents per gallon from last week’s $3.42 per gallon.
“High oil prices continue to push gasoline prices to territory that Americans haven’t seen for years, aside from Hurricane Harvey last September,” Patrick DeHaan, head of petroleum analysis for GasBuddy, said in a prepared statement. “While oil production in the U.S. reaches highs not seen since the 1970’s, OPEC’s production cuts for the last year have weighed heavily on global inventories, mitigating any small rise in U.S. production. And the damage could get even worse as refinery maintenance season and summer gasoline is on the horizon. This has been a storm brewing since the Obama administration legalized oil exports and OPEC decided to forgo market share to tighten global supply. All of this and more will lead to average gas prices being 25-50 cents per gallon higher by Memorial Day.”
For LIVE fuel price averages, click HERE.