Average Riverside County gas price drops for 40th time in 41 days

RIVERSIDE (CNS) - The average price of a gallon of self-serve regular gasoline in Riverside County dropped today for the 40th time in 41 days, falling 2.6 cents to $5.261, its lowest amount since March 11.

The average price has dropped 79.4 cents over the past 41 days, including three-tenths of a cent Monday, according to figures from the AAA and Oil Price Information Service. It dropped 18 consecutive days, was unchanged June 8 and resumed decreasing the following day.

The average price is 12.5 cents less than one week ago and 66.3 cents lower than one month ago, but 84.9 cents more than one year ago. The national average price dropped for the 39th time in 40 days, falling 1.3 cents to $3.847, its lowest amount since March 18. It is 7.9 cents less than one week ago and 50.9 cents lower than one month ago, but 66.1 cents more than one year ago.

The national average price has dropped 71.7 cents over the past 40 days, including seven-tenths of a cent Monday. It decreased 33 consecutive days, rose two-tenths of a cent Wednesday and resumed decreasing Thursday.

"Average gasoline prices fell in 46 states over the last week,'' Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations, said in a statement released Monday.

``The declines came despite a turbulent week, as fresh attacks were traded between the U.S. and Iran before both sides agreed to halt hostilities just in time Sunday, preventing what could have been a significant spike in oil prices.
``For now, GasBuddy anticipates the national average will continue drifting lower this week, though the situation remains anything but predictable.''