Gas prices climb in Valley, Cave Creek as August approaches record high

By Jeff Wendt
Mail

Gas prices in the Valley jumped another 15 cents this week to settle at $4.69 a gallon according to AAA Arizona on Friday.

The national average however dropped 2 cents to $4.08 a gallon, but still could set an August record.

“For the first time ever, the national average in August has been above $4 per gallon every day,” said Aldo Vazquez, spokesperson for AAA Mountain West Group in a release. “This month is poised to set a new record as the most expensive August at the pump, surpassing the previous August record set in 2022. However, Arizona has not reached its record high average of $5.38, which was set in June of 2022.”

Gas prices in Cave Creek continued an upward trend as well. The cheapest gas in Cave Creek can be found at the Circle K at 6210 E. Cave Creek Road at $4.67 a gallon.  Another Circle K, located at 6802 E. Cave Creek Road has gas at $4.77 a gallon, and the Chevron at 5439 E. Carefree Highway has gas at $4.79 a gallon. 

There’s been little movement on the crude oil front due to continued volatility in the Strait of Hormuz. Crude oil prices remain in the $80 per barrel range.

At the close of Wednesday’s formal trading session, crude oil fell 13 cents to settle at $82.23 a barrel. The Energy Information Administration reports crude oil inventories increased by 100,000 barrels from the previous week. At 428.9 million barrels, U.S. crude oil inventories are 1% above the five-year average for this time of year.

Gasoline demand increased last week from 8.68 million barrels per day to 9.04 million. Total domestic gasoline supply decreased from 209.4 million barrels to 206.8 million. Gasoline production increased last week, averaging 9.8 million barrels per day.

Arizona climbed to the eighth most expensive gas market in the county, behind California ($5.63), Hawaii ($5.41), Washington ($5.27), Alaska ($4.81), Nevada ($4.81), Oregon ($4.76) and Idaho ($4.57).

According to gasbuddy.com, the Valley's cheapest gas can be found in five locations across the Valley: the Costco at 101st Avenue and McDowell Road in Avondale, the Costco at Interstate 10 and Verrado Way in Buckeye, the Buc-ee’s at Interstate 10 and Bullard Avenue in Goodyear, the Sam’s Club at Interstate 10 and Dysart Road in Avondale and the Sam’s Club at 83rd Avenue and McDowell Road in Phoenix. All five locations have gas at $3.75 a gallon.

Jeff Wendt
Reporter | Phoenix/Cave Creek

jwendt@iniusa.org

Meet Jeff
Jeff Wendt started at Independent Newsmedia in January 2023, after 25 years working for Gannett and The Arizona Republic. Started as a high school sports scoretaker, worked up to reporting high school sports and then became an associate high school sports editor in 2002. Also worked in the Design Studio as a copy editor.

Community: Jeff serves on the Board of Elders at his local church.

Education: Arizona State University with a Bachelor’s Degree in Journalism and Mass Communication

Random fact: Attended Game 2 of the 2001 World Series.

Hobbies: Playing video games (yes still the kid in me), watching reality TV, playing poker.