Monday morning, July 12, brings good news for price-weary motorists

Some good news for motorists to start the week. Riverside gas prices have fallen 1.5 cents per gallon in the past week, averaging $4.21/g today, according to GasBuddy’s daily survey of 481 stations in Riverside. Still, gas prices in Riverside are 6.4 cents per gallon higher than a month ago and stand $1.14/g higher than a year ago.

According to GasBuddy price reports, the cheapest station in Riverside is priced at $3.73/g today while the most expensive is $4.79/g, a difference of $1.06/g. The lowest price in the state today is $3.56/g while the highest is $6.29/g, a difference of $2.73/g.

The national average price of gasoline has risen 0.5 cents per gallon in the last week, averaging $3.13/g today. The national average is up 5.0 cents per gallon from a month ago and stands 93.7 cents per gallon higher than a year ago.

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

  • July 12, 2020: $3.07/g (U.S. Average: $2.19/g)
  • July 12, 2019: $3.66/g (U.S. Average: $2.79/g)
  • July 12, 2018: $3.59/g (U.S. Average: $2.89/g)
  • July 12, 2017: $2.83/g (U.S. Average: $2.25/g)
  • July 12, 2016: $2.87/g (U.S. Average: $2.21/g)
  • July 12, 2015: $3.82/g (U.S. Average: $2.76/g)
  • July 12, 2014: $4.11/g (U.S. Average: $3.62/g)
  • July 12, 2013: $4.00/g (U.S. Average: $3.56/g)
  • July 12, 2012: $3.63/g (U.S. Average: $3.38/g)
  • July 12, 2011: $3.74/g (U.S. Average: $3.63/g)

Neighboring areas and their current gas prices:

  • San Bernardino — $4.22/g, unchanged  from last week’s $4.22/g.
  • Orange County — $4.28/g, up 0.5 cents per gallon from last week’s $4.28/g.
  • Los Angeles — $4.31/g, down 0.3 cents per gallon from last week’s $4.31/g.

“While the national average has seen a slight rise over the last week, we may see some stabilization coming to the pump as oil prices hold just under their 2021 peak from last week,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “Without additional crude oil supply coming online in the weeks ahead, we could see oil test $80 per barrel in the next couple of weeks. However, with U.S. gasoline demand falling slightly last week, we may have already seen peak consumption with the July 4 holiday. While the jury isn’t quite in on that just yet, we’re potentially only 4-6 weeks away from gas prices beginning a seasonal decline that we’re likely all eagerly awaiting.”

Image Sources

  • Filling the gas tank: iStock