It's Costing Less and Less to Fill Up Near Murrieta

The average price of a gallon of self-serve regular gasoline in the Inland Empire dropped Thursday for the 13th time in 14 days, decreasing 1.8 cents to $2.857.

The average price in Riverside and San Bernardino counties has dropped 17.8 cents over the past 14 days, including 1.7 cents on both Tuesday and Wednesday, and is 11.1 cents less than a week ago, according to figures from the AAA and Oil Price Information Service.

However, the average price is 7.5 cents more than one month ago and 40.4 cents higher than one year ago due to a 20-day streak of increases totaling 36.2 cents, ending Jan. 7 when it was unchanged.

The dropping pump prices are the result of reduced demand and the continuing low price of crude oil, said Jeffrey Spring, the Automobile Club of Southern California’s communications manager.

The price of crude oil accounts for two-thirds to three-quarters of the price of a gallon of gasoline, according to Tupper Hull, vice president, strategic communications, of the Western States Petroleum Association, a trade association representing major oil companies in five Western states.

— By City News Service. Image via Shutterstock.