RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County dropped today to its lowest amount since Feb. 1, 2017, decreasing eight-tenths of a cent to $2.805.
The average price has dropped 40 consecutive days, decreasing 66.1 cents, including nine-tenths of a cent on Sunday, 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, 56.8 cents lower than one month ago and $1.175 below what it was one year ago. It has decreased 70.3 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 as many people heed stay-at-home orders and the ongoing oil price war between Saudi Arabia and Russia, 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.