Lake Elsinore Gas Prices Drop Below $5 Per Gallon As Prices Decline

LAKE ELSINORE, CA — The average price of a gallon of self-serve regular gasoline in Riverside County dropped Monday for the 35th consecutive day and 42nd time in the past 43 days, decreasing 1.1 cents to $5.356, its lowest amount since March 7.

In Lake Elsinore, Gas Buddy reported the lowest price for regular unleaded gasoline was at Costco at $4.79 per gallon as of Monday afternoon. The most expensive gasoline in the Lake Elsinore and Wildomar area was at the Shell station on Clinton Keith Road and Arya Road at $5.79 per gallon.

Across the county, the average price has dropped 89 cents over the past 43 days, including 2.2 cents Sunday, according to figures from the AAA and the Oil Price Information Service. It has dropped 97.4 cents since rising to a record $6.33 on June 14.

The average price is 17.6 cents less than one week ago and 72.8 cents lower than one month ago, but $1.057 more than one year ago.

The national average price dropped for the 55th consecutive day, decreasing 1 cent to $4.059. It has dropped 95.7 cents since rising to a record $5.016 on June 14.

The national average price is 15.3 cents less than one week ago and 66.2 cents lower than one month ago, but 87.1 cents more than one year ago.

"Gas prices will remain volatile as we move through the final month of summer travel," Doug Shupe, the Automobile Club of Southern California's corporate communications manager, told City News Service. "Demand will likely increase closer to Labor Day which will put upward pressure on pump prices.

City News Service contributed to this report.