Coachella Valley Gas Prices Increase For 37th Day
The steak of increases to the average price of a gallon of self-serve regular gasoline in the Inland Empire was barely extended to 37 days today, thanks to an increase of one-tenth of a cent to $3.946.
Track the 10 lowest gas prices in the Coachella Valley
The average price in Riverside and San Bernardino counties is at its highest amount since Aug. 22, 2008, and 3.3 cents higher than a week ago, 47 cents above what it was one month ago and 87.6 cents greater than it was one year ago, according to figures from the AAA and Oil Price Information Service.
The average price rose one-tenth of a cent Monday, two-tenths of a cent Tuesday and four-tenths of a cent Wednesday.
The smaller gasoline price increases follow decreases in domestic crude oil prices. The price of a barrel of benchmark crude on the New York Mercantile Exchange fell $4 to $97.18 Tuesday because of the possibility of falling demand from Japan following a devastating earthquake and tsunami, but rose 80 cents Wednesday to $97.98 in response to fears that unrest in Bahrain could interrupt oil production in neighboring Saudi Arabia.
Crude oil costs account for two-thirds to three-quarters of the price of a gallon of gasoline, according to Tupper Hull of the Western States Petroleum Association, a trade association representing oil companies in six western states.
