Gas prices are seen at the Extra Mile Convenience Store at 91st Avenue and Olive Road in Peoria on Oct. 9, 2026. Gas prices fell slightly around the Valley this week but still remain at historic highs.
Gas prices fell 7 cents a gallon this week around the Valley, but the average remains at historic highs, AAA Arizona said in a release.
While the average price fell to $4.73 a gallon, it is 98 cents a gallon higher than a year ago at this time and 12 cents a gallon higher than a month ago.
“Gas prices remain the highest they’ve ever been for this time of year,” said David Caltabiano, spokesperson for AAA Mountain West Group said Thursday in a release. “This is the first year the national average has been above $4 per gallon in October.”
Gas prices in the state jumped 15 cents to settle at $4.81 a gallon. That is up 27 cents a gallon from a month ago.
In Queen Creek, the highest gas price is down a few cents to $4.92 a gallon.
The lowest price for a gallon of regular is at the Costco on 20260 S. Ellworth Road at $4.49, according to gasbuddy.com.
Average gas prices across Queen Creek are ranging from $4.85 to $4.69 for a gallon of regular, gasbuddy.com reports.
After dipping into the $80 per barrel range for several days, crude oil is back above $90 per barrel. On top of the volatility in the Strait of Hormuz, Hurricane Isaias is another factor that could affect gas prices if oil production and refineries in the region are impacted.
Gas prices in the state dropped 6 cents a gallon this week to settle at $4.70 a gallon. That’s $1.20 higher than a year ago at this time and 14 cents higher than a month ago.
The national average sits at $4.37 a gallon, a 2 cent drop this week. Prices are up $1.26 over a year ago and up 15 cents from a month ago.
At the close of Wednesday’s formal trading session, crude oil rose $1.04 a barrel to settle at $90.42 per barrel. The Energy Information Administration reports that U.S. crude oil inventories increased 0.9 million barrels to 427.3 million barrels, 2% above the five-year average.
Gasoline demand decreased last week from 8.84 million barrels per day to 8.68 million. Total domestic gasoline supply decreased from 206 million barrels to 204.4 million. Gasoline production also decreased from 9.59 million barrels to 9.46 million per day.
Arizona remains the ninth highest market in the country for gas. Arizona trails California ($6.40), Hawaii ($5.62), Washington ($5.49), Nevada ($5.49), Oregon ($5.05), Alaska ($5.03), Utah ($4.97) and Idaho ($4.97).
According to gasbuddy.com, four 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.
• Shell at the Loop 303 and Greenway Road in Surprise
All four locations have gas at $4.09 a gallon.
Janet Perez contributed to this report. Please submit comments at yourvalley.net/letters or email them to AzOpinions@iniusa.org. We are committed to publishing a wide variety of reader opinions, as long as they meet our Civility Guidelines.
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.
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