New Year's Eve, Day Lowest Gas Prices In Lake Elsinore

LAKE ELSINORE, CA — The average price of a gallon of self-serve regular gasoline in Riverside County was at its lowest amount to end a year since 2020 Tuesday, $4.285, after being at its second-highest amount to start a year.

In Lake Elsinore, the lowest gas prices are at the Costco Membership Warehouse at $4.05 per gallon of regular unleaded gasoline.

The average price has dropped 31.8 cents since Jan. 1, 2024, when it was $4.603, according to figures from the AAA and Oil Price Information Service. It fell to its lowest amount since July 5, 2021, Dec. 20, $4.249, but has since risen eight of 11 days, increasing 3.6 cents, including nine-tenths of a cent Tuesday.

The average price is nine-tenths of a cent more than one week ago but 5 cents less than one month ago and 30.9 cents lower than one year ago. It has dropped $2.088 since rising to a record $6.373 on Oct. 5, 2022.

The national average price rose 1.7 cents to $3.043, one day after in increase of one-tenth of a cent ended a streak of three consecutive decreases totaling 1.7 cents. It is two-tenths of a cent more than one week ago but 1.4 cents less than one month ago and 6.9 cents lower than one year ago.

The national average price has dropped $1.973 since rising to a record $5.016 on June 14, 2022.

"2024 will mark the second consecutive year of a decline in the national average," said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.

"I expect the national average to remain mostly stable."