Prices may be astronomical, but gas prices stabilize

Riverside gas prices are unchanged in the past week, averaging $4.59/g today, according to GasBuddy’s daily survey of 481 stations in Riverside. Gas prices in Riverside are 2.6 cents per gallon higher than a month ago and stand $1.50/g higher than a year ago.

According to GasBuddy price reports, the cheapest station in Riverside is priced at $4.07/g today while the most expensive is $4.99/g, a difference of 92.0 cents per gallon. The lowest price in the state today is $3.74/g while the highest is $6.49/g, a difference of $2.75/g.

The national average price of gasoline has fallen 2.4 cents per gallon in the last week, averaging $3.32/g today. The national average is down 9.0 cents per gallon from a month ago and stands $1.18/g higher than a year ago.

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

  • December 13, 2020: $3.09/g (U.S. Average: $2.14/g)
  • December 13, 2019: $3.57/g (U.S. Average: $2.57/g)
  • December 13, 2018: $3.28/g (U.S. Average: $2.39/g)
  • December 13, 2017: $3.07/g (U.S. Average: $2.45/g)
  • December 13, 2016: $2.64/g (U.S. Average: $2.22/g)
  • December 13, 2015: $2.66/g (U.S. Average: $2.01/g)
  • December 13, 2014: $2.86/g (U.S. Average: $2.56/g)
  • December 13, 2013: $3.59/g (U.S. Average: $3.24/g)
  • December 13, 2012: $3.61/g (U.S. Average: $3.29/g)
  • December 13, 2011: $3.55/g (U.S. Average: $3.26/g)

Neighboring areas and their current gas prices:

  • San Bernardino — $4.59/g, down 1.5 cents per gallon from last week’s $4.61/g.
  • Orange County — $4.65/g, down 0.9 cents per gallon from last week’s $4.66/g.
  • Los Angeles — $4.67/g, down 1.1 cents per gallon from last week’s $4.68/g.

“With the price of crude oil remaining some $13 per barrel below its 2021 peak, we have continued to see gas prices decline in nearly every city coast to coast, a trend that will likely continue into yet another week,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “Omicron concerns continue to be the primary catalyst for the drop in gas prices across much of the country. While we’ve seen some anecdotal reports about the new variant, vaccine producers have yet to definitively state if current vaccines will still bring adequate protection against omicron- something that might be critical to limit severity and to avoid new shutdowns. With OPEC+ members still planning to boost oil production in January, we continue to see global oil production slowly rising. In addition, U.S. gasoline demand last week fell to the lowest level since October, which may limit oil’s recent rebound and keep gas prices declining through the end of the year.”

Image Sources

  • gas prices: Cindy Uken