Palm Springs Gas Prices Keep Dropping

The average price of a gallon of self-serve regular gasoline in the Inland Empire fell today for the 31st consecutive day, decreasing a half-cent to $3.967, the lowest since March 24.

The average price in Riverside and San Bernardino counties is 5.6 cents less than one week ago and 29.8 cents lower than a month ago but 92.3 cents higher than a year ago, according to figures from the AAA and Oil Price Information Service.

For a list of the top 10 least-expensive places to buy gas in the Coachella Valley, click here

Analysts credit the decreases to the declining cost of crude oil. The price of a barrel of benchmark West Texas Intermediate crude on the New York Mercantile Exchange has fallen 12 percent to $100.22 since reaching a two-year high of $113.93 on April 29.

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.