Gas Prices Continue Holiday Season Decreases

RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County recorded its largest decrease since Oct. 20 Tuesday, dropping 6.2 cents to $5.137, its lowest amount since Sept. 2.

The average price has dropped 45 times in 48 days since rising to a record $6.373 on Oct. 5, decreasing $1.236, including 1.4 cents Monday, according to figures from the AAA and the Oil Price Information Service. It is 21.3 cents less than one week ago and 53.8 cents lower than one month ago, but 51.1 cents more than one year ago.

The national average price dropped for the 13th consecutive day, decreasing 2.6 cents to $3.636. It is 12.3 cents less than one week ago and 16.7 cents lower than one month ago, but 22.7 cents more than one year ago.

The national average price has dropped 16.9 cents over the past 13 days, including nine-tenths of a cent Monday. It is $1.38 lower than the record $5.016 set June 14.

California gas prices are customarily substantially higher than the national average because the state has the highest gas taxes in the nation, along with refinery cap and trade fees, higher general cost of living, a shrinking number of refineries producing gasoline, and the high cost of importing gasoline to the state when the state’s refineries can’t produce enough gas due to breakdowns, Marie Montgomery, a public relations specialist with the Automobile Club of Southern California told City News Service.