June 28, 2022
Gasoline pump prices may have peaked, wholesale decline reported
SOUTHLAND – (INT) – Falling demand may take the edge off record high gasoline prices.

The Energy Information Agency (EIA) reports that a slight downturn in consumer demand figured in a plunge of nearly 60-cents-a-gallon on the Los Angeles wholesale gasoline market in recent days.

Southern California Auto Club spokesperson Doug Shupe commented that "Hopefully that decline will soon be reflected in price reductions at the pump." The EIA says record prices are lowering demand.

Virtually all local gas stations are charging more than $6 a gallon for 87 octane regular. In Riverside, the per-gallon price is $6.32 for an increase of 4-cents over the previous week. Statewide, the average is $6.43 while the national average is $5.01.
Story Date: June 23, 2022
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