Today: May 28 , 2020

Arizona Weekly Fuel Update and Outlook

20 June 2016   Patrick DeHaan, Gregg Laskoski, Will Speer

Arizona gas prices rose slightly, but are still lower than much of the nation.

Arizona, AZ, June 20- Average retail gasoline prices in Arizona have risen 0.4 cents per gallon in the past week, averaging $2.21/g yesterday, according to GasBuddy's daily survey of 2,269 gas outlets in Arizona. This compares with the national average that has fallen 4.5 cents per gallon in the last week to $2.34/g, according to gasoline price website GasBuddy.com

Including the change in gas prices in Arizona during the past week, prices yesterday were 50.9 cents per gallon lower than the same day one year ago and are 6.8 cents per gallon higher than a month ago. The national average has increased 6.1 cents per gallon during the last month and stands 46.0 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on June 20 in Arizona have ranged widely over the last five years:
$2.72/g in 2015, $3.54/g in 2014, $3.48/g in 2013, $3.53/g in 2012 and $3.52/g in 2011.

Areas nearby Arizona and their current gas price climate:
Las Vegas- $2.47/g, up 0.3 cents per gallon from last week's $2.46/g.
Phoenix- $2.21/g, up 0.6 cents per gallon from last week's $2.20/g.
Tucson- $2.09/g, down 1.1 cents per gallon from last week's $2.10/g.

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“The price of crude oil, which had been gaining steam leading up to June, has now experienced a sustained downturn over the last couple of weeks.  As crude oil prices have cooled off, the impact is finally being felt in the retail gasoline sector, where the national average for gasoline fell over 5 cents per gallon in one week’s time.  No area has seen this impact more pronounced than the Great Lakes states, where Indiana and Ohio saw their gas prices fall over 15 cents per gallon in one week.  As EIA demand data for gasoline hit a new weekly record, it makes the declining price even more impressive.  This week, energy markets will be anxiously awaiting the outcome of whether the UK will remain in the European Union.  Uncertainty over the stability of the EU could impact crude and American gas prices,” said Will Speer, GasBuddy senior petroleum analyst.           

For LIVE fuel price averages, visit http://media.gasbuddy.com

About GasBuddy.com

GasBuddy is the premiere source for real-time local gas prices. Founded in 2000, GasBuddy.com developed as an initiative to provide consumers access to local, current gas prices. Through the GasBuddy.com website and the free GasBuddy mobile app, users can find and share gas prices with fellow drivers, saving big money at the pump.