RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County dropped today to its lowest amount since Aug. 30, 2016, decreasing six-tenths of a cent to $2.66.
The average price has dropped 58 of the past 62 days, decreasing 80.6 cents, including one-tenth of a cent on Monday, according to figures from the AAA and Oil Price Information Service.
The average price is eight-tenths of a cent less than one week ago, 24.5 cents lower than one month ago and $1.395 below what it was one year ago. It has decreased 84.8 cents since the start of the year.
“The federal Energy Information Administration noted last week that gasoline inventories dropped by a significant 3.7 million gallons the prior week, which means there is more driving and less production occurring than in prior weeks,” Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager told City News Service.
“Prices are still declining, though more slowly than in prior weeks, throughout Southern California, but if demand continues to increase and production continues to drop, we may be nearing the bottom of the price curve.”