Lake Elsinore-Wildomar Gasoline Price Records Largest Daily Decrease Since March 20

By City News Service

The average price of a gallon of self-served regular gasoline in the Inland Empire recorded its largest daily decrease since March 20 on Friday, dropping 2.1 cents to #3.833.

The average price in Riverside and San Bernardino counties has dropped 12 of the last 13 days, decreasing 10.8 cents, including 1.5 cents Thursday, according to figures from the AAA and Oil Price Information Service.

The average price rose 83.2 cents during the stretch of 29 increases in 30 days that immediately preceded the current run of dropping prices.

The average price is 7 cents less than one week ago and 28.1 cents lower than one year ago, but 34.5 cents more than one month ago.

“The wholesale price of Los Angeles gasoline has drop 76 cents since May 11 as more supply has become available,” said Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.

“Given the more than $1.80-cent difference between wholesale and retail prices, we would expect gas station prices to be coming down much more quickly, since the normal margin is $1 or less.”