Riverside Gas Prices Fall for Sixth Straight Week

Riverside gas prices have fallen 2.5 cents per gallon in the past week, averaging $3.53/g today, according to GasBuddy’s daily survey of 481 stations.

Gas prices in Riverside are 12.8 cents per gallon lower than a month ago, yet stand 0.8 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Riverside is priced at $3.13/g today while the most expensive is $4.19/g, a difference of $1.06/g. The lowest price in the state today is $2.85/g while the highest is $5.49/g, a difference of $2.64/g. The cheapest price in the entire country today stands at $1.82/g while the most expensive is $5.49/g, a difference of $3.67/g.

The national average price of gasoline has fallen 6.8 cents per gallon in the last week, averaging $2.63/g today. The national average is down 15.9 cents per gallon from a month ago, yet stands 21.7 cents per gallon lower than a year ago.

Historical gasoline prices in Riverside and the national average going back a decade:

• August 12, 2018: $3.52/g (U.S. Average: $2.85/g)
• August 12, 2017: $2.91/g (U.S. Average: $2.35/g)
• August 12, 2016: $2.57/g (U.S. Average: $2.12/g)
• August 12, 2015: $3.72/g (U.S. Average: $2.59/g)
• August 12, 2014: $3.85/g (U.S. Average: $3.47/g)
• August 12, 2013: $3.89/g (U.S. Average: $3.53/g)
• August 12, 2012: $4.05/g (U.S. Average: $3.70/g)
• August 12, 2011: $3.71/g (U.S. Average: $3.59/g)
• August 12, 2010: $3.13/g (U.S. Average: $2.76/g)
• August 12, 2009: $3.02/g (U.S. Average: $2.62/g)

Neighboring areas and their current gas prices:

• San Bernardino — $3.52/g, down 5.1 cents per gallon from last week’s $3.57/g.
• Orange County — $3.59/g, down 4.6 cents per gallon from last week’s $3.64/g.
• Los Angeles — $3.60/g, down 6.2 cents per gallon from last week’s $3.66/g.

“The national average price of gasoline has now fallen to the lowest level of the summer, but even better, the lowest since March as gas stations pass along the recent drop in oil prices brought on by the U.S./China trade rift,” Patrick DeHaan, head of petroleum analysis at GasBuddy, said in a prepared statement. “However, the drops in gas prices could slow in the weeks ahead as some OPEC members talk about cutting oil production to stem the recent drop in oil prices. That possibility pushed oil back up $3 per barrel from the lows seen last week. However, a production cut from oil producers may be more akin to putting lipstick on a pig as oil markets have plenty of downside ahead as demand for fuels begins to move lower into the fall with summer driving season ending soon. The U.S. national average could fall an additional 35 cents per gallon by Thanksgiving even after this week’s drop should the trade tensions and geopolitical risks remain the same.”

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