Today: Nov 21 , 2018

AZ Gas Prices Drop 1.6¢ per Gallon
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29 October 2018   Patrick DeHaan

The national average has fallen 2.9¢ per gallon.

Arizona, AZ, October 29- Gasoline prices in Arizona have fallen 1.6 cents per gallon in the past week, averaging $2.95/g yesterday, according to GasBuddy's daily survey of 2,269 stations in Arizona. This compares with the national average that has fallen 2.9 cents per gallon versus last week to $2.81/g, according to GasBuddy.

Average gasoline prices on October 29 in Arizona have ranged widely over the last five years:$2.42/g in 2017, $2.14/g in 2016, $2.13/g in 2015, $2.96/g in 2014 and $3.20/g in 2013.

Including the change locally during the past week, prices yesterday were 52.5 cents per gallon higher than a year ago and are 1.6 cents per gallon higher than a month ago. The national average has dropped 6.6 cents per gallon during the last month and stands 35.6 cents per gallon higher than a year ago.

Areas near Arizona and their current gas price climate:Las Vegas- $3.25/g, unchanged from last week's $3.25/g.Phoenix- $2.92/g, down 0.4 cents per gallon from last week's $2.93/g.Tucson- $2.64/g, down 1.4 cents per gallon from last week's $2.65/g.

"From coast to coast, gas prices in nearly every state saw downward movement in the last week as sliding oil prices continued to keep the door open to falling gas prices. In fact, in the next 24 hours we'll likely see the national average fall to its lowest point in over six months," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "Saudi Arabia has indicated it is prepared to raise oil production, addressing what had been a major concern ahead of Iran sanctions taking effect. Oil prices have fallen over 10 percent in recent weeks, providing the bulk of the gas price relief we're seeing, and will continue to see for the next week or two at least. While there is still some anxiety globally over a lack of spare oil capacity, the market has been laser focused on discussion from oil producers, including Russia, that they will act to raise production. OPEC meets in early December, and any official increase in oil production could go a long way to temper concerns of shortcomings in the market."

For LIVE fuel price averages, visit http://FuelInsights.GasBuddy.com.

About GasBuddyGasBuddy is the technology company changing the way more than 75 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 70 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.