RIVERSIDE — Motorists were in for sticker shocks on Sunday as they filled their vehicle with gas. Average retail gasoline prices in Riverside have risen 3.4 cents per gallon in the past week, averaging $3.64 per gallon on Sunday, according to GasBuddy’s daily survey of 481 gas outlets in Riverside.
This sticker price compares with the national average that has increased 5.7 cents per gallon in the last week to $2.86 per gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Riverside during the past week, prices yesterday were 68.9 cents per gallon higher than the same day one year ago and are 13.4 cents per gallon higher than a month ago. The national average has increased 15.4 cents per gallon during the last month and stands 53.8 cents per gallon higher than this day one year ago.
According to GasBuddy historical data, gasoline prices on May 14 in Riverside have ranged widely over the last five years: $2.95 per gallon in 2017, $2.78 per gallon in 2016, $3.90 per gallon in 2015, $4.17 per gallon in 2014 and $4.02 per gallon in 2013.
Areas near Riverside and their current sticker-shock gas price climate:
- San Bernardino- $3.60 per gallon, up 3.3 cents per gallon from last week’s $3.57 per gallon.
- Orange County- $3.69 per gallon, up 5.3 cents per gallon from last week’s $3.64 per gallon.
- Los Angeles- $3.72 per gallon, up 5.2 cents per gallon from last week’s $3.67 per gallon..
“Gas prices saw among the larger weekly increases since Hurricane Harvey in the last week as oil prices continued to surge, leading to sharply higher prices at the pump, putting the U.S. in peril of striking the $3/gallon level for the first time since 2014,” Patrick DeHaan, head of petroleum analysis for GasBuddy, said in a prepared statement. “Some of the factors at play in the rising prices: President Trump’s U.S. withdrawal from the nuclear deal with Iran and oil supplies that have continued to drop as U.S. exports surpass Venezuela- a surprising feat given Venezuela has the largest proven oil reserves in the world. In addition, as money continues to flow into commodities as bets for higher oil prices rise, there’s a strong chance of seeing crude oil prices continue to rally in the weeks ahead, with odds of hitting $3 per gallon nationally now better than 65 percent just in time for the summer driving season.”
For LIVE fuel price averages, click here.