RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County dropped under $3 today for the first time since Aug. 31, 2017, decreasing 2.5 cents to $2.978.
The average price has dropped 27 consecutive days, decreasing 48.8 cents, including seven-tenths of a cent on Monday, according to figures from the AAA and Oil Price Information Service.
The average price is 15.7 cents less than one week ago, 49.5 cents lower than one month ago and 60 cents below what it was one year ago. It has decreased 53 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.