Four gas stations in Palm Springs and Cathedral City had wildly different prices on Sunday, begging the question: Who is making the big bucks at the gas pump? Valero in Cathedral City was selling unleaded for $3.57 per gallon, Arco down the street boasted $3.53 per gallon, the 76 station next door was selling it for $3.63 per gallon, and Chevron was charging $3.79 per gallon.
Why the significant price difference? Who is profiting?
All this as gasoline prices in Riverside have fallen 2.9 cents per gallon in the past week, averaging $3.67 per gallon Sunday, according to GasBuddy’s daily survey of 481 stations in Riverside. This compares with the national average that has fallen 3.1 cents per gallon versus last week to $2.91 per gallon, according to GasBuddy.
Average gasoline prices on June 11 in Riverside have ranged widely over the last five years: $2.97 per gallon in 2017, $2.82 per gallon in 2016, $3.63 per gallon in 2015, $4.08 per gallon in 2014 and $3.94 per gallon in 2013.
Including the change locally during the past week, prices yesterday were 70.1 cents per gallon higher than a year ago and are 3.0 cents per gallon higher than a month ago. The national average has increased 4.8 cents per gallon during the last month and stands 58.5 cents per gallon higher than a year ago.
Areas near Riverside and their current gas price climate:
- San Bernardino- $3.65 per gallon, down 3.3 cents per gallon from last week’s $3.68 per gallon.
- Orange County- $3.69 per gallon, down 2.7 cents per gallon from last week’s $3.72 per gallon.
- Los Angeles- $3.72 per gallon, down 3.4 cents per gallon from last week’s $3.76 per gallon.
“Gasoline prices continue to fade after peaking just ahead of Memorial Day, largely in part due to previous discussion that OPEC may lift output, pushing oil prices back down to the mid-$60s,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “As we’ve been expecting for months, gas prices will likely decline in the month of June as summer gasoline inventories continue to build and refiners continue to crank out fuels like gasoline and diesel. A solid majority of states saw average gas prices decline last week, and I expect we’ll hold that trajectory again this week.”
For LIVE fuel price averages, visit here.