Relief at the Gas Pump Starts to Surface

RIVERSIDE — Consumers got a little bit of relief at the gas pump Sunday as gasoline prices in Riverside have fallen 0.7 cents per gallon in the past week, averaging $3.69 per gallon Sunday, according to GasBuddy’s daily survey of 481 stations in Riverside.

This compares with the national average that has fallen 1.9 cents per gallon versus last week to $2.94 per gallon, according to GasBuddy. But consumers are celebrating any relief, hoping it’s the beginning of a downward trend.

Average gasoline prices on June 4 in Riverside have ranged widely over the last five years: $2.99 per gallon in 2017, $2.79 per gallon in 2016, $3.73 per gallon in 2015, $4.11 per gallon in 2014 and $3.96 per gallon in 2013.

Including the change locally during the past week with some slight relief, prices yesterday were 69.7 cents per gallon higher than a year ago and are 9.4 cents per gallon higher than a month ago. The national average has increased 13.4 cents per gallon during the last month and stands 57.8 cents per gallon higher than a year ago.

Areas near Riverside and their current gas price climate:

• San Bernardino — $3.68 per gallon, up 2.6 cents per gallon from last week’s $3.66 per gallon.
• Orange County — $3.72 per gallon, down 1.2 cents per gallon from last week’s $3.73 per gallon.
• Los Angeles — $3.75 per gallon, unchanged  from last week’s $3.75 per gallon.

“Finally some moderation has hit tens of thousands of gas stations across the country, following the drop in oil prices in recent days,” Patrick DeHaan, head of petroleum analysis for GasBuddy, said in a prepared statement. “We may have dodged a bullet in avoiding the $3 per gallon level for now, but not everything is rosy yet. While nearly 40 states saw average prices drop in the last week, ten still saw small increases, so this is not an all-inclusive party by any means. Prices remain well above their year-ago level, costing the country $228 million more every day versus a year ago. Moving forward, all eyes remain on OPEC and their coming meeting to see if they’ll push oil prices higher, or if they’ll allow a respite for the summer driving season.”

For LIVE fuel price averages, visit here.