Phoenix-area gas prices climb another eight cents this week

By Jeff Wendt
Mail

Continued volatility in the crude oil market sent gas prices soaring again in the Valley this week, according to AAA Arizona on Friday.

Prices at the pump jumped 8 cents this week to settle at $4.69 a gallon, which is up $1.17 a gallon over a year ago at this time.

“Crude oil remains high, averaging $100 per barrel amid continued volatility in the Strait of Hormuz,” said David Caltabiano, AAA Mountain West Group spokesperson in a release on Thursday. “The national average is inching closer to this year’s record high of $4.56 set on May 21.”

The national average sits at $4.46 a gallon, which is up 17 cents from a week ago, and is $1.26 a gallon higher than a year ago at this time.

The state average is at $4.66 a gallon, up 9 cents from last week and up $1.07 from this time last year.

Gas prices in Cave Creek were mined. The cheapest gas in Cave Creek can be found at the Circle K at 6210 E. Cave Creek Road at $4.57 a gallon, a 2 cent drop this week.  Another Circle K, located at 6802 E. Cave Creek Road has gas at $4.67 a gallon, also an 2 cent drop, and the Chevron at 5439 E. Carefree Highway has gas at $4.99 a gallon, which jumped 20 cents from last week. 

At the close of Wednesday’s formal trading session, crude oil fell $3.40 to settle at $102.43 a barrel. The Energy Information Administration reports U.S. crude oil inventories decreased 0.6 million barrels to 423.4 million barrels, 1% above the five-year average.

Gasoline demand increased last week from 8.55 million barrels per day to 8.79 million. Total domestic gasoline supply also increased from 206.9 million to 207.7 million barrels, as well as gasoline production from 9.3 million barrels per day to 9.6 million barrels.

Arizona remains the ninth most expensive gas market in the nation, behind California ($5.89), Washington ($5.53), Hawaii ($5.40), Oregon ($5.06), Alaska ($5.05), Nevada ($5.01), Idaho ($4.76) and Utah ($4.68).

According to gasbuddy.com, the Valley’s cheapest gas can be found in four locations across the Valley:

• 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
• The Sam’s Club at 83rd Avenue and McDowell Road in Phoenix.

All four locations have gas at $4.09 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.