12 day streak of falling gas prices in the Inland Empire comes to an end

A 12-day streak of increases in the average price of a gallon of self-serve regular gasoline in the Inland Empire ended today with an increase of one-tenth of a cent to $2.979.

The average price in Riverside and San Bernardino counties dropped 3.1 cents over the past 12 days, including four-tenths of a cent on Thursday, to its lowest amount since April 10, according to figures from the AAA and Oil
Price Information Service. The decreases immediately followed a stretch of 11 increases in 12 days totaling 3.1 cents.

The average price is 2.1 cents less than one week ago but four-tenths of a cent more than one month ago and 15.7 cents higher than one year ago.

“We’ve had unusually stable prices this spring because oil prices have remained close to $50 per barrel,” said Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.

“We have also seen U.S. domestic oil production act as a safety valve against production cuts by OPEC countries. We’ve also been fortunate to not have any major refinery incidents occur locally.”