Gas prices see slight drop in Valley, up around the state and nation

By Jeff Wendt
Mail

Gas prices around the Valley saw a slight decline this week, with prices dropping 5 cents a gallon down to $4.89 a gallon while the state and nation saw an uptick in prices according to AAA Arizona.

Gas prices in the state rose 2 cents a gallon, up to $4.72 on average, while the national average increased 6 cents to $4.15 a gallon.

“Crude oil prices remain high, even as they’ve fluctuated in recent days following the announcement of a two-week ceasefire between the U.S. and Iran,” said AAA Mountain West Group spokesperson Julian Paredes in a release. “The price for a barrel of crude dropped below $100 but then rose again, highlighting the volatility of oil markets and fluidity of geopolitical events.”

At the close of Wednesday’s formal trading session, oil prices fell $1.26 to settle at $100.12 a barrel.

Arizona remains the sixth-highest average price in the nation, following California ($5.89), Hawaii ($5.50), Washington ($5.36), Oregon ($4.96), and Nevada ($4.94).

According to new data from the Energy Information Administration, gasoline demand decreased last week from 8.92 million barrels per day to 8.68 million. Total domestic gasoline supply decreased from 241.4 million barrels to 240.9 million. Gasoline production decreased last week, averaging 9.6 million barrels per day.

The cheapest price in the Valley, according to gasbuddy.com is in Gilbert at the Costco on Country Club Road near Baseline Road, and at Sam’s Club in Tempe near Tempe Marketplace, both stations at $3.94 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.