Prices at the Pump Continue to Spike

Did you fill ‘er up when you stopped at the gas pump, or did you only put in an allotted amount of money to get you through? If you filled ‘er up, it hit the wallet harder than it has in three years.

Average retail gasoline prices in Riverside have risen 3.1 cents per gallon in the past week, averaging $3.51 per gallon on Sunday, according to GasBuddy’s daily survey of 481 gas outlets in Riverside. This compares with the national average that has increased 5.2 cents per gallon in the last week to $2.71 per gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Riverside during the past week, prices yesterday were 52.8 cents per gallon higher than the same day one year ago and are 12.6 cents per gallon higher than a month ago. The national average has increased 17.7 cents per gallon during the last month and stands 30.1 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on April 16 in Riverside have ranged widely over the last five years: $2.98 per gallon in 2017, $2.81 per gallon in 2016, $3.09 per gallon in 2015, $4.23 per gallon in 2014 and $3.98 per gallon in 2013.

Areas near Riverside and their current gas price climate:

• San Bernardino- $3.49 per  gallon, up 2.2 cents per gallon from last week’s $3.47 per gallon.
• Orange County- $3.57 per gallon, up 3.1 cents per gallon from last week’s $3.53 per gallon.
• Los Angeles- $3.59 per gallon, up 2.4 cents per gallon from last week’s $3.57 per gallon.

“The seasonal surge at gas pumps is in full motion, causing the most dreaded time of year for fearful motorists, especially of what may still be coming,” Patrick DeHaan, head of petroleum analysis for GasBuddy, said in a prepared statement. “With the national average gas price now at its highest since July 26, 2015, I can’t immediately allay all fears of a continued spike in gas prices, however, we’re likely in the closing innings of the seasonal rise- let’s just hope we don’t go to extra innings. In the past few years, the average date that gas prices have peaked is mid-May, which is just around the corner, and by all metrics, that could be very close to what we expect this time around. Refinery maintenance has gone well thus far, and gasoline supply has continued to push higher as more refiners conclude their work. With the transition to summer gasoline also wrapping up, the reasons gas prices to rise will shrink.”

For LIVE fuel price averages, click HERE.