RIVERSIDE – The average price of a gallon of self-serve regular gasoline in the Inland Empire fell for the 17th consecutive day and has dropped 23.3 cents since hitting a record high, according to figures released Thursday by the Oil Price Information Service.

The average of $4.381 in Riverside and San Bernardino counties is 2.9 cents lower than the figure released early Wednesday and 22.8 cents lower than last month. However, the average is $1.317 higher than at this time last year.

Experts have cited lower demand as the reason for the declining price.

The average hit a record high of $4.614 June 22.