Business & Tech
Concerns Over COVID-19 Surge Pushing Gas Price Down Again: RivCo
A gasoline demand slump amid spiking coronavirus cases has already pushed LA County's price down, and Riverside County is falling in line.
RIVERSIDE COUNTY, CA — The average price of a gallon of self-serve regular gasoline in Riverside County recorded its fourth decrease in 56 days Tuesday and second in four days, dropping two-tenths of a cent to $3.04.
The other decreases over the past 56 days were three-tenths of a cent on both May 29 and June 8 and a half-cent Saturday, according to figures from the AAA and Oil Price Information Service.
The run of 52 increases in 55 days totaling 38.2 cents followed 58 decreases in 62 days totaling 80.6 cents, which dropped the average price to its lowest amount since Aug. 30, 2016.
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The average price is 2.1 cents more than a week ago and 19.1 cents higher than one month ago but 61.3 cents less than one year ago. It has dropped 46.8 cents since the start of the year.
"Los Angeles wholesale gasoline prices have dipped in recent days, reportedly on concerns about a demand slump due to the large jump in coronavirus cases locally," Marie Montgomery, a public relations specialist with the Automobile Club of Southern California, told City News Service.
