Gas Prices Lowest Since September, RivCo Drivers Still Pained At Pump

TEMECULA, CA — The average price of a gallon of self-serve regular gasoline in Riverside County dropped Tuesday to its lowest amount since Sept. 20, decreasing 1 cent to $5.35.

The average price has dropped 38 times in 41 days since rising to a record $6.373 on Oct. 5, decreasing $1.023, including three-tenths of a cent Monday, according to figures from the AAA and the Oil Price Information Service. It is 3 cents less than one week ago and 69.7 cents lower than one month ago, but 75.9 cents more than one year ago.

The cheapest gasoline on Tuesday was found at the Costco stations in Southwest Riverside County, selling at $4.73 per gallon of regular, self-serve gasoline in Southwest Riverside County. Banning and Beaumont saw gas prices at $4.99 at the First Street ARCO station, while Coachella Valley's Costco prices were reported at $4.89 Tuesday morning according to www.GasBuddy.com.

The national average price dropped for the sixth consecutive day following a run of six increases in seven days totaling 4 cents, decreasing 1.4 cents to $3.759. It is 4.5 cents less than one week ago and 13.3 cents lower than one month ago, but 34.4 cents more than one year ago.

The national average price has dropped 4.6 cents over the past six days, including three-tenths of a cent Monday. It is $1.257 lower than the record $5.016 set June 14.

"After rising the week prior, the national average has changed directions again, posting a modest weekly decline with prices dropping in a majority of states," said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.

"The decline has been partly driven by Great Lakes states, where prices fell by 15-25 cents per gallon due to an improvement in the refining situation, and also oil prices, which fell back under $90 per barrel last week. With oil prices remaining volatile, the outlook is murky, but I'm hopeful in the lead-up to Thanksgiving we'll see prices declining in more states, while others may not be quite as lucky.

"Regardless, we'll still be seeing the most expensive Thanksgiving Day prices on record."