Pump Prices Fall Slightly Helping Consumers

RIVERSIDE — Gasoline prices in Riverside have fallen 2.5 cents per gallon at the pump in the past week, averaging $3.57 per gallon Sunday, according to GasBuddy’s daily survey of 481 stations in Riverside. This compares with the national average that has fallen 0.3 cents per gallon versus last week to $2.85 per gallon, according to GasBuddy.

Average gasoline prices on July 9 in Riverside have ranged widely over the last five years: $2.84 per gallon in 2017, $2.88 per gallon in 2016, $3.47 per gallon in 2015, $4.14 per gallon in 2014 and $4 per gallon in 2013.

Including the change locally during the past week, prices yesterday were 73.3 cents per gallon higher than a year ago and are 10.1 cents per gallon lower at the pump than a month ago. The national average has dropped 6.1 cents per gallon at the pump during the last month and stands 60.0 cents per gallon higher than a year ago.

Areas near Riverside and their current gas price climate:

• San Bernardino- $3.57/g, down 1.9 cents per gallon from last week’s $3.59/g.
• Orange County- $3.60/g, down 1.4 cents per gallon from last week’s $3.62/g.
• Los Angeles- $3.65/g, down 1.1 cents per gallon from last week’s $3.67/g.

“As gas prices saw their highest level on July 4 in four years, President Trump continues to try to push OPEC to produce more crude oil, but so far, it hasn’t materialized into much anything. Gas prices have inched up in a majority of states and oil prices remain comfortably above $70 per barrel, with no significant relief any time soon,” Patrick DeHaan, head of petroleum analysis for GasBuddy, said in a prepared statement. “In addition, with a brief reminder of hurricane season as Beryl formed, there may be more worries that in the weeks ahead the Atlantic could churn out more storms, thus more risk of disruption in regards to oil or refinery infrastructure. There’s little downward pressure on oil prices as we remain in the midst of the summer driving season, and unless we see credible evidence to suggest OPEC or other countries are producing more oil, we will likely continue to see gas prices drift higher.”

 

For LIVE fuel price averages, visit here.