New Year Ushers in Spike in Gas Prices

SoCal Motorists Hit with Spike in Gas Prices

Average gasoline prices in Riverside have spiked 7.3 cents per gallon in the last week, averaging $4.53/g today, according to GasBuddy’s survey of 481 stations in Riverside. Prices in Riverside are 16.9 cents per gallon lower than a month ago and stand 22.2 cents per gallon higher than a year ago. The national average price of diesel has fallen 4.5 cents in the last week and stands at $3.96 per gallon.

According to GasBuddy price reports, the cheapest station in Riverside was priced at $3.79/g yesterday while the most expensive was $5.29/g, a difference of $1.50/g. The lowest price in the state yesterday was $3.59/g while the highest was $7.79/g, a difference of $4.20/g.

The national average price of gasoline has fallen 1.6 cents per gallon in the last week, averaging $3.06/g today. The national average is down 17.3 cents per gallon from a month ago and stands 12.6 cents per gallon lower than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

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

• January 2, 2023: $4.30/g (U.S. Average: $3.18/g)
• January 2, 2022: $4.56/g (U.S. Average: $3.26/g)
• January 2, 2021: $3.15/g (U.S. Average: $2.25/g)
• January 2, 2020: $3.50/g (U.S. Average: $2.59/g)
• January 2, 2019: $3.24/g (U.S. Average: $2.25/g)
• January 2, 2018: $3.08/g (U.S. Average: $2.49/g)
• January 2, 2017: $2.74/g (U.S. Average: $2.34/g)
• January 2, 2016: $3.00/g (U.S. Average: $1.99/g)
• January 2, 2015: $2.58/g (U.S. Average: $2.21/g)
• January 2, 2014: $3.65/g (U.S. Average: $3.32/g)

Neighboring areas and their current gas prices:

• San Bernardino — $4.47/g, up 12.1 cents per gallon from last week’s $4.35/g.
• Orange County — $4.63/g, up 8.0 cents per gallon from last week’s $4.55/g.
• Los Angeles — $4.70/g, up 7.3 cents per gallon from last week’s $4.62/g.

“After a brief hiatus, the national average has moved off its recent high, again falling closer to the $3 per gallon mark, setting up a potential second attempt at slipping below $2.99 for the first time since 2021,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While gas prices have risen in some areas, such as California after refinery snags emerged, other states have returned to declines. Illinois is one such example, falling below $3 per gallon for the first time since 2021. The Great Lakes and Gulf Coast offer some of the nation’s lowest gas prices, with the window of opportunity holding for the next few weeks to potentially re-test some of the levels seen a few weeks ago. The good news continues for average diesel prices, which slipped below $4 per gallon again and stand at their lowest level since the summer.”