RIVERSIDE — Rising gasoline prices in Riverside took a toll 9.9 cents per gallon in the past week, averaging $3.66 per gallon yesterday, according to GasBuddy’s daily survey of 481 stations in Riverside.
This compares with the national average that has risen 1.5 cents per gallon versus last week to $2.87 per gallon, according to GasBuddy.
Average gasoline prices on October 1 in Riverside have ranged widely over the last five years, rising occasionally: $3.04 per gallon in 2017, $2.75 per gallon in 2016, $2.98 per gallon in 2015, $3.64 per gallon in 2014 and $3.87 per gallon in 2013.
Including the change locally during the past week, prices yesterday were 61.7 cents per gallon higher than a year ago and are 14.4 cents per gallon higher than a month ago. The national average has been rising and increased 3.5 cents per gallon during the last month and stands 33.4 cents per gallon higher than a year ago.
Areas near Riverside and their current gas price climate:
- San Bernardino — $3.65 per gallon, rising 8.2 cents per gallon from last week’s $3.56 per gallon.
- Orange County — $3.75 per gallon, up 9.4 cents per gallon from last week’s $3.65 per gallon.
- Los Angeles- $3.77 per gallon, up 7.3 cents per gallon from last week’s $3.70 per gallon..
“Overarching concern over tightening global oil supplies, in advance of U.S. trade sanctions on Iran, have helped WTI rise $2.47 a barrel in just the past week, while Brent crude oil picked up nearly $4 in value to achieve thresholds not seen since November, 2014,” Patrick DeHaan, senior petroleum analyst for GasBuddy.com, said in a prepared statement. “Looking ahead, the squeeze in global supplies will almost certainly put gasoline prices under pressure and provide a strong basis for further increases at the pumps at a time when drivers are accustomed to seeing prices soften. Short of producing countries suddenly finding a million spare barrels of oil over the month of October, drivers should brace for even more rising prices over the next several weeks.”
For LIVE fuel price averages, visit here.