Lake Elsinore Gas Prices Below Area Average, Dropped For 29th Day

LAKE ELSINORE, CA — The average price of a gallon of self-serve regular gasoline in Riverside County dropped Thursday for the 29th consecutive day since rising to a record, decreasing 2 cents to $5.41.

In Lake Elsinore, Costco has the cheapest gas around at $4.69 per gallon of regular unleaded self serve gasoline.

The average price has dropped 96.6 cents over the past 29 days, including 2.5 cents Wednesday, according to figures from the AAA and the Oil Price Information Service.

The average price is at its lowest amount since Sept. 22. It is 12.6 cents less than one week ago and 92.5 cents lower than one month ago, but 90.7 cents more than one year ago.

"The biggest reason for pump price drops in Southern California in recent weeks is because regional refineries that were offline are fully operational again which has fixed the fuel inventory squeeze we saw that led to record-breaking pump prices," Doug Shupe, the Automobile Club of Southern California's corporate communications manager, told City News Service.

The national average price rose Thursday 1.3 cents $3.778. It is 1.8 cents more than one week ago and 37.5 cents more than one year ago, but 1.8 cents lower than one month ago. It is $1.238 less than the record of $5.016 set June 14.