Arizona gas prices continue to fall, national average increases
The song has remained the same over the last few weeks as Arizona's average price for a gallon of gas took the largest dip across the country once again, while the national average remains in flux.
According to AAA, the national situation is a big improvement compared to prices last year — even with a two cent increase from last week — as the current U.S. average for a gallon of gas sits at $3.58, around $1.43 less than this time in 2022.
It is, however, five cents more than this point in May.
“We may be in a bit of a demand lull heading into the July Fourth holiday,” AAA spokesperson, Andrew Gross, said in the release. “Drivers are benefitting financially, with 20 gallons of gas costing nearly $30 less than last year. And with the cost for oil low, drivers will find pump prices that are flat or drifting slightly lower for now.”
Updated data from the Energy Information Administration concluded that gas demand fell since last week, from 9.22 million barrels per day to 9.19 million.
This, coupled with total domestic gas stocks increasing by 2.1 million barrels of crude oil for a total of 220.9 million, has helped hold pump prices from hiking further, AAA said.
Total domestic commercial crude inventories took a big leap as well, to the tune of 7.9 barrels of crude oil since the week prior, now residing at 467.1 million.
Wednesday's close to the formal trading session saw West Texas Intermediate (WTI) drop by $1.15, settling at $68.27.
Arizona gas prices take nation's largest decrease, again
In line with the past month or so, gas prices across the Grand Canyon state have continued their descent since last Thursday, sporting a nation-leading statewide 14 cent decline in average price at the pump.
The mean price, now at $4.21, is about 63 cents above that of the current national average and will likely find its way toward somewhere in the middle, according to experts.
Arizona still holds a spot among the 10 most expensive markets in the country as well, but that too has dropped, and is currently in sixth place seated behind California ($4.88), Washington ($4.85), Hawaii ($4.73), Oregon ($4.49) and Nevada ($4.27).
The problem could have been mitigated better, of course, as Patrick De Haan, Head of Petroleum Analysis at GasBuddy, told the Arizona Republic in May the state faced its own "unique challenges."
Lack of refinery capital, maintenance, Arizona fuel requirements and local officials all had a part in the Copper state's woes - one that a Republic investigation has delved into - finding that oil companies had warned state officials about the issue in early March.
"There is no doubt the price surge harmed Arizona economically the past three months, though it's impossible to know exactly how much of the increase could have been prevented with a fuel waiver," Republic reporter Ryan Randazzo wrote in a June 12 article.
Investigation: Fuel refinery outages cost Arizonans millions this spring, but that's only part of the story
County by county rankings
As is tradition, Maricopa County remains the most expensive place on average to fill up in Arizona at $4.46, 18 cents cheaper than last week.
After a few stagnant weeks, Graham took a 7-cent dive and stays as the cheapest county.
Yuma County was the sole entry to not have any price change since last Thursday, while everyone else got to shed some much-needed weight.
The rest of the breakdown looks like this:
Maricopa: $4.46 (-0.18)
Pinal: $4.09 (-0.15)
Yavapai: $4.07 (-0.04)
Santa Cruz: $4.07 (-0.13)
Coconino: $4.05 (-0.12)
Pima: $4.00 (-0.15)
Mohave: $3.94 (-0.07)
Navajo: $3.92 (-0.06)
La Paz: $3.91 (-0.09)
Yuma: $3.90
Apache: $3.83 (-0.05)
Gila: $3.75 (-0.14)
Cochise: $3.62 (-0.07)
Greenlee: $3.32 (-0.12)
Graham: $3.31 (-0.07)
This article originally appeared on Arizona Republic: Arizona gas prices fall again
