Business & Tech
Gas Prices Jump As RivCo Economy Reopens Amid Coronavirus
"We expect that prices will continue to gradually increase as long as demand increases," industry watcher Jeffrey Spring said.
RIVERSIDE COUNTY, CA — The average price of a gallon of self-serve regular gasoline in Riverside County rose Friday for the 30th time in 31 days, increasing 1.1 cents to $2.89.
The average price has risen 23 cents over the past 31 days, including nine-tenths of a cent Thursday, according to figures from the AAA and Oil Price Information Service. It rose 23 consecutive days, dropped three-tenths of a cent last Friday, then resumed dropping Saturday.
The average price is 4.7 cents more than a week ago and 23 cents higher than one month ago but 95.8 cents less than one year ago. It has dropped 61.8 cents since the start of the year.
Find out what's happening in Lake Elsinore-Wildomarfor free with the latest updates from Patch.
The run of increases follows 58 decreases in 62 days totaling 80.6 cents, which dropped the average price to its lowest amount since Aug. 30, 2016.
Wednesday's "inventory report from the Energy Information Administration shows increased stockpiles of gasoline supply nationwide, but there was a reduction in California inventory, according to the state energy commission, so we expect that prices will continue to gradually increase as long as demand increases," said Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.
