GasBuddy provides Arizona fuel update, outlook

Average retail gasoline prices in Arizona have risen 2.4 cents per gallon in the past week, averaging $2.44 per gallon yesterday, according to GasBuddy’s daily survey of 2,269 gas outlets in Arizona on Monday.

This compares with the national average that has increased 3.0 cents per gallon in the last week to $2.57 per gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Arizona during the past week, prices yesterday were 28.2 cents per gallon higher than the same day one year ago and are 3.3 cents per gallon higher than a month ago. The national average has increased 8.8 cents per gallon during the last month and stands 30.7 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on Jan. 29 in Arizona have ranged widely over the last five years:

$2.16 per gallon in 2017; $1.81 per gallon in 2016; $1.88 per gallon in 2015; $3.23 per gallon in 2014; and $3.17 per gallon in 2013.

Areas near Arizona and their current gas price climate:

Las Vegas- $2.66 per gallon, up 2.8 cents per gallon from last week’s $2.63 per gallon.

Phoenix- $2.33 per gallon, up 2.1 cents per gallon from last week’s $2.31 per gallon.

Tucson- $2.24 per gallon, up 6.2 cents per gallon from last week’s $2.18 per gallon.

“With oil maintaining strength, gasoline prices have continued to climb in many places, rising to their highest level since Hurricane Harvey dealt a blow to Texas and a significant portion of U.S. refining capacity,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “This time around, oil prices have been the culprit for gasoline prices rising to their highest level in over 130 days, and with U.S. crude oil inventories plummeting for 10 straight weeks, I see diminishing chances of the traditional winter relief that accompanies the year’s coldest months. Without gas prices falling, the current price environment may be the floor for what could become a more expensive year than anticipated, barring any change to OPEC policy that has led to today’s climate of lower supply and higher prices.”

For more information, visit gasbuddy.com.

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