Arizona gas prices drop 6.4 cents in last week
PHOENIX - Arizona gas prices have fallen 6.4 cents per gallon in the past week, averaging $2.97 per gallon today, June 24, according to GasBuddy's daily survey of 2,269 stations.
Gas prices in Arizona are 19.0 cents per gallon lower than a month ago, yet stand 10.4 cents per gallon lower than a year ago.
According to GasBuddy price reports, the cheapest station in Arizona is priced at $2.51 per gallon while the most expensive is $4.49 per gallon, a difference of $1.98. The lowest price in the state June 24 is $2.51 per gallon while the highest is $4.49, a difference of $1.98. The cheapest price in the entire country stands at $1.92 per gallon while the most expensive is $5.86, a difference of $3.94.
The national average price of gasoline has fallen 2.5 cents per gallon in the past week, averaging $2.65 per gallon. The national average is down 19.2 cents from one month ago, yet stands 18.7 cents per gallon lower than a year ago.
Historical gasoline prices in Arizona and the national average going back a decade:
June 24, 2018: $3.08/g (U.S. Average: $2.83/g)
June 24, 2017: $2.37/g (U.S. Average: $2.26/g)
June 24, 2016: $2.22/g (U.S. Average: $2.31/g)
June 24, 2015: $2.71/g (U.S. Average: $2.78/g)
June 24, 2014: $3.54/g (U.S. Average: $3.68/g)
June 24, 2013: $3.48/g (U.S. Average: $3.56/g)
June 24, 2012: $3.48/g (U.S. Average: $3.41/g)
June 24, 2011: $3.49/g (U.S. Average: $3.59/g)
June 24, 2010: $2.73/g (U.S. Average: $2.74/g)
June 24, 2009: $2.64/g (U.S. Average: $2.66/g)
Neighboring areas and their current gas prices:
Las Vegas: $3.32/g, down 5.6 cents per gallon from last week's $3.37/g.
Phoenix: $2.96/g, down 4.6 cents per gallon from last week's $3.00/g.
Tucson: $2.55/g, down 7.8 cents per gallon from last week's $2.62/g.
"For the seventh straight week, the national average price of gasoline has fallen, to a level last seen in March. But just in time for the upcoming holiday, the steak is at high risk of being broken," said Patrick DeHaan, head of petroleum analysis for GasBuddy.
"A large refinery explosion in Philadelphia last week may ultimately serve to push gasoline prices higher once we learn more details about how long that facility may be offline. For now, motorists along the East Coast may only see prices rise a few cents as a result, but could see more of a hit should the refinery be down for a long period of time.
"Furthermore, oil prices have rebounded notably due to increasing tensions between the U.S. and Iran and attacks in the Strait of Hormuz, a key waterway which sees over 20% of global oil supply traversing through the waterway. Whether the upcoming and likely rebound in gasoline prices sticks for long is unknown, but if tempers continue to flare between the two countries, motorists may fall victim to the rocky relationship in the form of higher gas prices."
He added that, in addition, trade tensions with China have now taken a back seat, but with President Trump meeting President Xi Jinping, "we may see either more upward pressure on oil if signs of a truce in trade emerge, or downward pressure if the countries move further apart."
For LIVE fuel price averages, visit http://FuelInsights.GasBuddy.com.
Information and graphics provided by GasBuddy.