Gas prices still at record highs despite drop in Cave Creek, Valley

By Jeff Wendt
Mail

Despite the continued volatility in the crude oil market, gas prices dropped 9 cents this week in the Valley according to AAA Arizona.

The current average for a gallon of gas in the Valley is $4.64 a gallon, down from $4.73 a gallon last week. The price still reflects a 99 cents a gallon increase from a year ago at this time.

“The national average has stayed above $4 per gallon since late July and is currently more than a dollar higher than it was this time last year,” said David Caltabiano, spokesperson for AAA Mountain West Group in a release late Thursday. “The fall months typically bring lower gas prices, but volatility in the oil market has led to seasonal record highs this year.”

Around the state, the average dropped 5 cents to $4.65 a gallon. That reflects a $1.22 a gallon increase from a year ago.

The prices dropped 5 cents a gallon nationwide, as the average dropped to $4.32 a gallon, which is $1.27 a gallon higher than a year ago at this time.

In Cave Creek, the cheapest gas can be found at the Circle K at 6210 E. Cave Creek Road at $4.59 a gallon. The Circle K at 6802 E. Cave Creek Road sits at $4.65 a gallon, while the Chevron at 5439 E. Carefree Highway is at $4.89 a gallon.

At the close of Wednesday’s formal trading session, crude oil rose 95 cents to settle at $95.09 per barrel. The Energy Information Administration reports U.S. crude oil inventories decreased 8.6 million barrels to 415.6 million barrels, 3% below the five-year average.

Gasoline demand decreased last week from 8.76 million barrels per day to 8.40 million. Total domestic gasoline supply increased from 204.7 million barrels to 208.3 million. Gasoline production decreased from 9.34 million barrels per day to 9.23 million barrels.

Arizona fell to the 10th most expensive gasoline market in the nation, behind California ($6.23), Hawaii ($5.63), Washington ($5.42), Nevada ($5.42), Oregon ($4.97), Alaska ($4.96), Idaho ($4.85), Utah ($4.82) and Illinois ($4.69).

According to gasbuddy.com, three locations in the Valley have the cheapest gas. They are:

• The Costco at Interstate 10 and Verrado Way in Buckeye,

• The Buc-ee’s at Interstate 10 and Bullard Avenue in Goodyear.

• The Costco at 101st Avenue and McDowell Road in Avondale.

All three locations have gas at $3.899 a gallon.

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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.