Little Change at Gas Pump this Week

There has been little change at the gas pump since last week. Riverside gas prices have fallen 0.3 cents per gallon in the past week, averaging $3.12/g today, according to GasBuddy’s daily survey of 481 stations. Gas prices in Riverside are 4.7 cents per gallon higher than a month ago and stand 40.6 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Riverside is priced at $2.52/g today while the most expensive is $3.85/g, a difference of $1.33/g. The lowest price in the state today is $2.49/g while the highest is $4.99/g, a difference of $2.50/g.

The national average price of gasoline has fallen 1.1 cents per gallon in the last week, averaging $2.16/g today. The national average is down 3.5 cents per gallon from a month ago and stands 47.7 cents per gallon lower than a year ago.

Historical prices at the gas pump in Riverside and the national average going back ten years:

• August 10, 2019: $3.53/g (U.S. Average: $2.64/g)
• August 10, 2018: $3.52/g (U.S. Average: $2.86/g)
• August 10, 2017: $2.91/g (U.S. Average: $2.35/g)
• August 10, 2016: $2.60/g (U.S. Average: $2.13/g)
• August 10, 2015: $3.75/g (U.S. Average: $2.59/g)
• August 10, 2014: $3.84/g (U.S. Average: $3.48/g)
• August 10, 2013: $3.91/g (U.S. Average: $3.55/g)
• August 10, 2012: $3.97/g (U.S. Average: $3.67/g)
• August 10, 2011: $3.74/g (U.S. Average: $3.62/g)
• August 10, 2010: $3.13/g (U.S. Average: $2.76/g)

Neighboring areas and their current gas pump prices:

• San Bernardino- $3.11/g, unchanged  from last week’s $3.11/g.
• Orange County- $3.16/g, down 0.5 cents per gallon from last week’s $3.16/g.
• Los Angeles- $3.16/g, up 0.4 cents per gallon from last week’s $3.16/g.

“Gas prices have remained in very familiar territory for the sixth straight week as gasoline demand fell slightly last week, keeping oil prices confined as forces prevent it from falling under $39 but also from breaching $42 per barrel. However, as summer begins to fade, demand recovery may be limited, and there’s a possibility we may see more downside potential in the last quarter of the year,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “Traditionally, gasoline demand weakens into the autumn, and as the coronavirus situation keeps more kids home and more parents from work, we may see a drop in gas prices as we progress through fall. However, since no one can predict when we may rebound from the coronavirus situation, nothing long-term is set in stone, but we are on track for a seventh straight week of stable gas prices.”