Price of Gasoline Dips, Still Higher Than Year Ago

The price of gasoline has dipped slightly. That’s the good news. Riverside gas prices have fallen 4.2 cents per gallon in the past week, averaging $3.98/g today, according to GasBuddy’s daily survey of 481 stations. Gas prices in Riverside are 18.1 cents per gallon lower than a month ago, yet stand 33.6 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Riverside is priced at $3.47/g today while the most expensive price of gasoline $4.79/g, a difference of $1.32/g. The lowest price in the state today is $3.39/g while the highest is $5.29/g, a difference of $1.90/g. The cheapest price in the entire country today stands at $1.92/g while the most expensive is $5.49/g, a difference of $3.57/g.

The national average price of gasoline has fallen 1.5 cents per gallon in the last week, averaging $2.61/g today. The national average is down 3.5 cents per gallon from a month ago, yet stands 6.8 cents per gallon lower than a year ago.

Historically, the price of gasoline in Riverside and the national average going back a decade:

• November 11, 2018: $3.64/g (U.S. Average: $2.67/g)
• November 11, 2017: $3.21/g (U.S. Average: $2.56/g)
• November 11, 2016: $2.79/g (U.S. Average: $2.17/g)
• November 11, 2015: $2.84/g (U.S. Average: $2.20/g)
• November 11, 2014: $3.17/g (U.S. Average: $2.91/g)
• November 11, 2013: $3.56/g (U.S. Average: $3.17/g)
• November 11, 2012: $3.82/g (U.S. Average: $3.43/g)
• November 11, 2011: $3.83/g (U.S. Average: $3.43/g)
• November 11, 2010: $3.10/g (U.S. Average: $2.85/g)
• November 11, 2009: $2.96/g (U.S. Average: $2.63/g)

Neighboring areas and their current price of gasoline:

• San Bernardino — $3.97/g, down 5.2 cents per gallon from last week’s $4.02/g.
• Orange County — $4.02/g, down 6.6 cents per gallon from last week’s $4.09/g.
• Los Angeles — $4.06/g, down 7.0 cents per gallon from last week’s $4.13/g.

“It looks like average gas prices in most areas saw a modest uptick again in the last week, for the second consecutive week on continued optimism over a China/U.S. trade deal and another decline in gasoline inventories, which pushed wholesale gas prices higher in most areas,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “In addition, some areas of the Great Lakes saw prices spike due to price cycling, a local trend, and with the stock market and interest rates heading up there’s been a strong belief that the economy continues to chug along, boosting oil demand in it’s wake as well, leading to an unusual trend in the fall: gas prices that aren’t falling but stable or increasing. About the only region that has seen some relief in recent days and will see prices drop notably will be the West Coast, but only after gas prices in those areas soared on refinery kinks, power outages and more. California will likely soon slide back under $4 per gallon while the Pacific Northwest — Washington and Oregon — see declines of 10-25 cents over coming weeks. For the rest of the country, we’ll see some limited price drops with the possibility of prices holding or even rising again this week, following oil prices higher.”