RIVERSIDE (CNS) – The average price of a gallon of self-serve regular gasoline in Riverside County dropped Wednesday to its lowest amount since Feb. 3, 21 days before Russia’s invasion of Ukraine sent shock waves through the oil market that led to record highs.
The average price dropped 5.4 cents Wednesday to $4.627, its 26th consecutive decrease and 60th in 63 days since rising to a record $6.373 on Oct. 5, according to figures from the AAA and the Oil Price Information Service.
The average price has fallen $1.746 over the past 63 days, including 5 cents Tuesday. It is 26.3 cents less than one week ago and 75.3 cents lower than one month ago, but 1.2 cents more than one year ago.
“Gas prices are dropping sharply,” said Andrew Gross, an AAA national public relations manager. “But with oil being the main ingredient in gasoline, OPEC+’s move could slow this decline. However, the gas price will likely soon be lower than it was a year ago.”