Lake Elsinore Gas Prices Drop For The 25th Day: Cheapest Gas Near You

LAKE ELSINORE, CA — The average price of a gallon of self-serve regular gasoline in Riverside County recorded its largest decrease since at least 2019 Friday, dropping 3.8 cents to $6.084, its lowest amount since June 2.

In Lake Elsinore, Friday morning, the lowest price of a gallon of regular, unleaded gasoline was at the Valero Station on McCall Boulevard and Encanto Drive at $5.89 per gallon, according to www.GasBuddy.com.

The average price has dropped 11 of the past 12 days, decreasing 16.2 cents, including 2.9 cents Thursday, according to figures from the AAA and the Oil Price Information Service. It decreased for seven consecutive days, rose one-tenth of a cent Monday and resumed decreasing Tuesday.

The average price is 11.6 cents less than one week ago and 18.5 cents lower than one month ago but $1.829 more than one year ago.

"Los Angeles wholesale gasoline prices have plunged by 70 cents since last Friday and by $1.40 compared to last month, largely on concerns about the economy," said Doug Shupe, the Automobile Club of Southern California's corporate communications manager. "This downward momentum should provide at least a week or two of significant further declines in local gas prices."

The national average price dropped for the 24th consecutive day following an 18-day streak of increases, decreasing 3.1 cents to $4.721. It has dropped 29.5 cents over the past 24 days, including 2.7 cents Thursday, after rising 41.5 cents during the 18-day streak of increases.

The national average price is 12.1 cents less than one week ago and 23.4 cents less than one month ago but $1.62 more than one year ago.