Valley gas prices fell 13 cents a gallon this week to an average of $4.51 a gallon as the transition to winter blend of gasoline is underway according to AAA Arizona.
While the winter blend is cheaper to produce, higher crude oil prices and continuing instability in the Middle East are preventing prices from falling more.
“While gas prices continue to fall at the pump, this month is poised to set a record as the most expensive October ever for gas prices,” said David Caltabiano, spokesperson for AAA Mountain West Group late Thursday. “It follows similar records set in August and September of this year.”
The average around the state fell 12 cents to sit at $4.53 a gallon, which is still $1.17 a gallon higher than this time year ago.
Gas prices are dropping in Queen Creek as well. The highest price for a gallon of regular gas is down to $4.49 from $4.69 last week.
The lowest price for a gallon of regular is at Costco on 20260 S. Ellsworth Road at $4.19, down from $4.23 last week, according to gasbuddy.com.
Average gas prices across Queen Creek range from $4.21 to $4.35 for a gallon of regular, gasbuddy.com reports.
The national average dropped 3 cents a gallon to $4.29 a gallon, which is $1.22 a gallon higher than a year ago.
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 that 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 is now 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).
In the Valley, according to gasbuddy.com, the cheapest gas can be found at five locations:
• 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.
• 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 five locations have gas at $3.89 a gallon.
Janet Perez contirbuted 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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