Gasoline Demand Pushes Up Prices at the Pump
Riverside gas prices have risen 3.1 cents per gallon in the past week, averaging $3.29/g today, due in large part to gasoline demand, according to GasBuddy’s daily survey of 481 stations. Gas prices in Riverside are 17.5 cents per gallon higher than a month ago and stand 17.9 cents per gallon lower than a year ago.
According to GasBuddy price reports, the cheapest station in Riverside is priced at $2.80/g today while the most expensive is $3.85/g, a difference of $1.05/g. The lowest price in the state today is $2.39/g while the highest is $4.29/g, a difference of $1.90/g.
Due to gasoline demand, the national average price of gasoline has risen 1.1 cents per gallon in the last week, averaging $2.40/g today. The national average is up 14.4 cents per gallon from a month ago and stands 12.6 cents per gallon lower than a year ago.
Historical gasoline prices in Riverside and the national average going back ten years:
- January 25, 2020: $3.47/g (U.S. Average: $2.52/g)
- January 25, 2019: $3.17/g (U.S. Average: $2.28/g)
- January 25, 2018: $3.25/g (U.S. Average: $2.57/g)
- January 25, 2017: $2.77/g (U.S. Average: $2.29/g)
- January 25, 2016: $2.79/g (U.S. Average: $1.82/g)
- January 25, 2015: $2.39/g (U.S. Average: $2.02/g)
- January 25, 2014: $3.57/g (U.S. Average: $3.28/g)
- January 25, 2013: $3.70/g (U.S. Average: $3.33/g)
- January 25, 2012: $3.72/g (U.S. Average: $3.38/g)
- January 25, 2011: $3.33/g (U.S. Average: $3.09/g)
Neighboring areas and their current gas prices:
- San Bernardino — $3.29/g, up 4.8 cents per gallon from last week’s $3.25/g.
- Orange County — $3.36/g, up 3.7 cents per gallon from last week’s $3.33/g.
- Los Angeles — $3.38/g, up 5.0 cents per gallon from last week’s $3.33/g.
“Finally, after several weeks of sharply rising gas prices, the pace of price increases has slowed significantly in recent days as prices are now largely caught up to oil’s increases as of late,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “While the national average remains at its highest level since the pandemic, increases are likely to slow down in the immediate short-term unless and until oil prices see renewed momentum. When it comes to demand, Pay with GasBuddy data showed last week’s gasoline demand at its highest level since November, another bullish factor as the nation continues to see slow improvement from the pandemic.“
- Woman Shocked at Gas Prices: Shutterstock