RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County dropped today to its lowest amount since Jan. 6, 2017, decreasing 1.6 cents to $2.789.
The average price has dropped 41 consecutive days, decreasing 67.7 cents, including eight-tenths of a cent on Monday, 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 9.8 cents less than one week ago, 56.4 cents lower than one month ago and $1.204 below what it was one year ago. It has decreased 71.9 cents since the start of the year.
The 2017 average included stations in San Bernardino County.
The agreement reached Sunday involving Saudi Arabia, Russia and other oil-producing nations to reduce oil production is not likely to have an immediate impact on pump prices “given the ongoing impact the COVID-19 pandemic is having on crude oil prices and gasoline demand,” according to Jeff Spring, the corporate communications manager for the Automobile Club o Southern California.
“Refineries continue to reduce gasoline production and oil inventories continue to increase,” Spring told City News Service.