For the second consecutive week, average retail gasoline prices in Riverside County have dropped slightly.
Average gas prices have fallen 3.6 cents per gallon in the past week, averaging $3.14 per gallon Sunday , according to GasBuddy’s daily survey of 481 gas outlets in Riverside. This compares with the national average that has fallen 3.9 cents per gallon in the last week to $2.49 per gallon.
Including the change in gas prices in Riverside during the past week, prices Sunday were 46.8 cents per gallon higher than the same day one year ago and are 15.5 cents per gallon higher than a month ago. The national average has increased 3.4 cents per gallon during the last month and stands 37.9 cents per gallon higher than this day one year ago.
According to GasBuddy historical data, gasoline prices on November 27 in Riverside have ranged widely over the last five years:
- $2.67 per gallon in 2016,
- $2.71 per gallon in 2015,
- $3.04 per gallon in 2014,
- $3.53 per gallon in 2013
- $3.74 per gallon in 2012.
Areas near Riverside and their current gas price climate:
- San Bernardino- $3.15 per gallon, down 2.8 cents per gallon from last week’s $3.18/g.
- Orange County- $3.18 per gallon, down 2.0 cents per gallon from last week’s $3.20/g.
- Los Angeles- $3.22 per gallon, down 2.9 cents per gallon from last week’s $3.25/g.
“With Thanksgiving travel now behind us, all eyes turn to OPEC and their meeting this week to determine the fate of the cartel’s oil production,” Patrick DeHaan, head of petroleum analysis for GasBuddy, said in a prepared statement. “Gasoline prices took a breather heading into Thanksgiving which may last another few days, but as oil prices perk back up heading into OPEC’s annual meeting, we may see a rebound soon. OPEC’s decision may reverberate at pumps in the months and year ahead, and while the decision is likely to be an extension of production cuts made at their meeting a year ago, it’s certainly not yet guaranteed. Global oil inventories have already tightened noticeably in the last year and continuing such in the face of rising demand may spur oil prices even higher in the days, weeks and months ahead.”
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