Gasoline Price Nears Record High In Riverside County

Murrieta CA

03 August, 2021

1:36 PM

Description

RIVERSIDE COUNTY, CA — The average price of a gallon of self-serve regular gasoline in Riverside County rose two-tenths of a cent Tuesday for the fourth consecutive day. The average price has increased 12 of the past 13 days, rising 3.4 cents to $4.303, its highest amount since Oct. 25, 2012, according to figures from the AAA and Oil Price Information Service. It is 2.4 cents higher than one week ago, 6.9 cents more than one month ago and $1.171 greater than a year ago. The 2012 figure included stations in San Bernardino County. The average price has risen $1.127 since the start of the year because of a sharp increase in the oil price, and higher demand stemming from more people driving to work, according to Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager. The record price for a gallon of self-serve regular gasoline in Riverside County is $4.68, which hit on Oct. 8, 2012. Industry analysts attributed the soaring price nine years ago to a combination of reduced production at refineries and an annual shift from a summer gasoline blend to a winter blend with fewer additives, according to industry analysts. At the time, West Coast senators called for an investigation into possible market manipulation, with Sen. Dianne Feinstein leading the charge. –City News Service contributed to this report.