Arizona, AZ, May 22- Average retail gasoline prices in Arizona have fallen 1.3 cents per gallon in the past week, averaging $2.37/g yesterday, according to GasBuddy's daily survey of 2,269 gas outlets in Arizona. This compares with the national average that has increased 2.1 cents per gallon in the last week to $2.35/g, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Arizona during the past week, prices yesterday were 23.2 cents per gallon higher than the same day one year ago and are 8.5 cents per gallon higher than a month ago. The national average has decreased 7.0 cents per gallon during the last month and stands 6.9 cents per gallon higher than this day one year ago.
According to GasBuddy historical data, gasoline prices on May 22 in Arizona have ranged widely over the last five years:
$2.14/g in 2016, $2.77/g in 2015, $3.50/g in 2014, $3.44/g in 2013 and $3.76/g in 2012.
Areas near Arizona and their current gas price climate:
Las Vegas- $2.65/g, up 1.4 cents per gallon from last week's $2.64/g.
Phoenix- $2.24/g, up 0.8 cents per gallon from last week's $2.24/g.
Tucson- $2.16/g, down 1.2 cents per gallon from last week's $2.17/g.
"Due to a $3 per barrel surge in crude oil prices in the last week, gasoline prices have been moving higher across a good portion of the U.S.," said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. "Optimism surrounding a likely deal to renew OPEC's production cuts is pushing oil prices higher, but also the possibility that non-OPEC countries may join in has led to a dramatic turnaround in oil prices recently, with WTI crude oil climbing back over $50 per barrel for the first time since late April. The timing is impeccable for OPEC- tighten the market as summer driving season hits? Of course, but if global oil inventories don't soon reflect the lower output it will eventually mean more struggles for oil down the road, so we're staying tuned," DeHaan added.
For LIVE fuel price averages, visit http://FuelInsights.GasBuddy.com.
GasBuddy is the technology company changing the way more than 60 million consumers find, purchase, and save money on gasoline. Founded in 2000, the original GasBuddy website was a pioneer in crowd-sourced information, leveraging technology, big data, and a passionate community that now connects more than 60 million users with real-time, accurate fuel pricing information as well as reliable reviews of gas station amenities and services. The app and website have the most accurate and real-time fuel prices at over 140,000 unique stations in the United States, Canada, and Australia and is the most comprehensive money-saving companion while on the road. GasBuddy is available on all mobile platforms. For more information, visit www.gasbuddy.com.