Today: Jul 15 , 2019

Gas Prices Continue to Drop

08 August 2016   Patrick DeHaan, Gregg Laskoski, Will Speer, Jeff Pelton

Gas prices drop by 5.1¢ per gallon.

Arizona, AZ, August 8- Average retail gasoline prices in Arizona have fallen 5.1 cents per gallon in the past week, averaging $2.05/g yesterday, according to GasBuddy's daily survey of 2,269 gas outlets in Arizona. This compares with the national average that has fallen 0.5 cents per gallon in the last week to $2.12/g, according to gasoline price website GasBuddy.com

Including the change in gas prices in Arizona during the past week, prices yesterday were 67.3 cents per gallon lower than the same day one year ago and are 18.0 cents per gallon lower than a month ago. The national average has decreased 12.1 cents per gallon during the last month and stands 47.8 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on August 8 in Arizona have ranged widely over the last five years:
$2.72/g in 2015, $3.49/g in 2014, $3.48/g in 2013, $3.28/g in 2012 and $3.34/g in 2011.

Areas nearby Arizona and their current gas price climate:
Las Vegas- $2.39/g, down 2.7 cents per gallon from last week's $2.42/g.
Phoenix- $2.01/g, down 6.5 cents per gallon from last week's $2.08/g.
Tucson- $1.85/g, down 6.0 cents per gallon from last week's $1.91/g.

"Government EIA data last week showed a sizable draw on gasoline inventory followed by a strong jobs report, with new jobs for July reaching 255,000.  And consequently, WTI crude oil ended the week nearly $3 higher than where it began," said Gregg Laskoski, senior petroleum analyst for GasBuddy.

"While that may create a brief pause early this week in the decline of retail gasoline, we expect that the prevailing price trend (incremental decline) will resume shortly, barring any additional refinery problems in the midwest, or, potential Atlantic hurricane activity.” 


 

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.