The average price of a gallon of self-serve regular gasoline in the Inland Empire rose one-tenth of a cent Sunday to $2.994, the second consecutive increase after falling 28 of the previous 30 days.
Despite the increases, the average price in Riverside and San Bernardino counties is 1.9 cents less than a week ago, 13.1 cents less than a month ago and 32.7 cents less than this time last year, but $1.192 more than at the start of the year, according to figures from the AAA and Oil Price Information Service.
Further increases could be in store because of rising crude oil prices.
In the Coachella Valley, gas prices ranged from $2.81 in Indio to $3.01 in Palm Springs, according to Mapquest, an online mapping service that tracks fuel prices.
The price of a barrel of light, sweet crude for November delivery on the New York Mercantile Exchange rose 95 cents Friday to $78.53, the first time in a year it closed above $78.
Oil prices increased more than 9 percent last week, which analysts attributed the weakness of the dollar, which results in oil price increases because it requires more dollars to buy oil and prompts investors toward
investing in oil, rather than the dollar.
Crude oil costs account for half to three-quarters of the price of a gallon of gasoline, said Tupper Hull, director of strategic communications of the Western States Petroleum Association, a trade association representing major oil companies in six Western states.
The national average price for a gallon of self-serve unleaded regular gasoline is reflecting the crude oil price increases, rising 2 cents today to $2.547, a day after a 2.6-cent increase.
