RIVERSIDE — Gasoline prices in Riverside have fallen 6.0 cents per gallon in the past week, averaging $3.64 per gallon Sunday, according to GasBuddy’s daily survey of 481 stations in Riverside.
This compares with the national average that has fallen 5.9 cents per gallon versus last week to $2.67 per gallon, according to GasBuddy.
Average gasoline prices on November 12 in Riverside have ranged widely over the last five years: $3.21 per gallon in 2017, $2.78 per gallon in 2016, $2.84 per gallon in 2015, $3.15 per gallon in 2014 and $3.56 per gallon in 2013.
Including the change locally during the past week, prices yesterday were 43.5 cents per gallon higher than a year ago and are 14.8 cents per gallon lower than a month ago. The national average has fallen 22.1 cents per gallon during the last month and stands 12.2 cents per gallon higher than a year ago.
Areas near Riverside and their current gas price climate:
- San Bernardino — $3.65 per gallon, down 4.1 cents per gallon from last week’s $3.69 per gallon.
- Orange County — $3.67 per gallon, down 6.2 cents per gallon from last week’s $3.73 per gallon.
- Los Angeles — $3.72 per gallon, down 5.2 cents per gallon from last week’s $3.77 per gallon.
“The last week has seen another notable decline at pumps in nearly every state with average prices again plummeting, in some places to $1.99 per gallon or less, following oil’s longest losing streak in nearly 34 years,” Patrick DeHaan, head of petroleum analysis for GasBuddy, said in a prepared statement. “Every single day, Americans are spending nearly $100 million less than just 30 days ago — a significant and impressive feat as the national average gas price has fallen over 20 cents per gallon over the last month. Oil’s demise has partially been due to the U.S. issuing waivers to countries buying crude oil from Iran, making sanctions moot, but also because ahead of those waivers, OPEC agreed to increase production to soften the potential blow from the Nov. 4 re-imposition of sanctions- yet now OPEC is upset and may again cut production to the the move by Trump to allow temporary waivers. What’s it all mean for motorists? The plummet at the pump may continue for now, but all eyes will be on OPEC to see what move they make to pump oil prices back up.”
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