Gas Prices Tumble Nearly 7 Cents at Pump

Riverside gas prices have fallen 6.8 cents per gallon in the past week, averaging $3.55/g today, according to GasBuddy’s daily survey of 481 stations. Gas prices in Riverside are 35.9 cents per gallon lower than a month ago and stand 28.0 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Riverside is priced at $3.09/g today while the most expensive is $4.49/g, a difference of $1.40/g. The lowest price in the state today is $2.59/g while the highest is $4.99/g, a difference of $2.40/g. The cheapest price in the entire country today stands at $1.88/g while the most expensive is $4.99/g, a difference of $3.11/g.

The national average price of gasoline has fallen 3.0 cents per gallon in the last week, averaging $2.55/g today. The national average is down 5.5 cents per gallon from a month ago and stands 19.3 cents per gallon higher than a year ago.

Historical gasoline prices in Riverside and the national average going back a decade:

• December 16, 2018: $3.27/g (U.S. Average: $2.36/g)
• December 16, 2017: $3.05/g (U.S. Average: $2.43/g)
• December 16, 2016: $2.63/g (U.S. Average: $2.23/g)
• December 16, 2015: $2.66/g (U.S. Average: $2.01/g)
• December 16, 2014: $2.81/g (U.S. Average: $2.51/g)
• December 16, 2013: $3.59/g (U.S. Average: $3.21/g)
• December 16, 2012: $3.58/g (U.S. Average: $3.24/g)
• December 16, 2011: $3.53/g (U.S. Average: $3.24/g)
• December 16, 2010: $3.23/g (U.S. Average: $2.97/g)
• December 16, 2009: $2.89/g (U.S. Average: $2.57/g)

Neighboring areas and their current gas prices:

• San Bernardino — $3.59/g, down 5.3 cents per gallon from last week’s $3.65/g.
• Orange County — $3.58/g, down 5.8 cents per gallon from last week’s $3.64/g.
• Los Angeles — $3.65/g, down 6.5 cents per gallon from last week’s $3.72/g.

“Gasoline prices have now slid to their lowest level since March thanks to rising U.S. gasoline inventories and sluggish demand, certainly bringing some Christmas cheer to motorists,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “The jump in gasoline inventories has been so large it has offset oil prices which touched $60 per barrel last week, as well as the U.S. and China suggesting they’ve reached a trade deal. Pending more significant proven trade ties between the two major countries, we may have seen the rally in oil stall for now, as refined product inventories post notable jumps going into the end of the year. It may take more inspiration for oil’s recent run to translate over into lackluster gasoline, with motorists the clear beneficiaries- they’ll be able to spend a bit more on shopping for those last minute Christmas gifts.”