Gasoline Prices Rise Slightly this Past Week

RIVERSIDE — Gasoline prices in Riverside have risen 0.7 cents per gallon in the past week, averaging $3.55 per gallon Sunday, according to GasBuddy’s daily survey of 481 stations in Riverside. This compares with the national average that has fallen 0.8 cents per gallon versus last week to $2.83 per gallon, according to GasBuddy.

Average gasoline prices on Sept. 24 in Riverside have ranged widely over the last five years: $3.05 per gallon in 2017, $2.70 per gallon in 2016, $3.05 per gallon in 2015, $3.67 per gallon in 2014 and $3.94 per gallon in 2013.

Including the change locally during the past week, prices yesterday were 50.1 cents per gallon higher than a year ago and are 5.8 cents per gallon higher than a month ago. The national average is unchanged   during the last month and stands 28.8 cents per gallon higher than a year ago.

Areas near Riverside and their current gasoline prices climate:

• San Bernardino — $3.55 per gallon, up 1.5 cents per gallon from last week’s $3.53 per gallon.
• Orange County- $3.63 per gallon, up 2.1 cents per gallon from last week’s $3.60 per gallon.
• Los Angeles- $3.67 per gallon, up 1.5 cents per gallon from last week’s $3.66 per gallon.

“With a muted response from OPEC to President Trump’s exhortation via Twitter that OPEC do something to reign in high oil prices, we may see energy markets rally as concerns grow that Iran’s sanctions effective in November may pose more a challenge to global supply than anticipated,” Patrick DeHaan, head of petroleum analysis for GasBuddy, said in a prepared statement. “Oil prices jumped to fresh highs last night on reaction to the chilly reception to Trump’s concern, with several oil ministers downplaying the rise in oil prices. Moving forward, with Iran’s oil essentially out of reach, gasoline prices may not see the typical decline we had been expecting as recently as the last two weeks as new concerns emerge about the tightrope balance some oil producing countries are hoping for- pushing supply down as global demand rises. That’s not going to be good news for motorists.”

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