Riverside county gas prices drop below $4 a gallon


RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County dropped three-tenths of a cent on Sunday to $3.997, the seventh consecutive decrease following a five-day streak of increases.
The average price has decreased 3.2 cents over the past seven days, including 1.2 cents Saturday, according to figures from the AAA and Oil Price Information Service.
It is 3.2 cents less than one week ago and 17.5 cents lower than one month ago, but 33.8 cents higher than one year ago.
“Based on some substantial drops in Los Angeles wholesale prices over the past few days, we would expect retail gas prices to resume dropping as they had been in the last couple weeks of October,” said Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.
“Oil industry analysts are predicting some significant price drops in December as well based on lower production costs for local refineries.”