RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County dropped today to its lowest amount since Jan. 3, 2017, decreasing 1.5 cents to $2.774.
The average price has dropped 42 consecutive days, decreasing 69.2 cents, including 1.6 cents on Tuesday, according to figures from the AAA and Oil Price Information Service. The streak is the longest since a 51-day run from Nov. 4-Dec. 24, 2019.
The average price is 9.4 cents less than one week ago, 57.2 cents lower than one month ago and $1.223 below what it was one year ago. It has decreased 73.4 cents since the start of the year.
The 2017 average included stations in San Bernardino County.
The dropping prices are a result of weakened demand for gasoline because of stay-at-home orders and oil because of the global economic slowdown, both caused by the coronavirus outbreak, according to Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.
The oil price is the top factor in determining the gasoline price.