The city issued a request for proposals for bulk fuel services and on May 11 received two responses — from the present vendor, Synergy, at $748,678.80, and Petroleum Traders Corp. at $737,835.70 for 9,000 gallons of red-dyed diesel, 55,000 gallons of clear diesel and 100,000 gallons of unleaded gas.
Gas prices continued to drop this week in the Valley and in Tempe with many falling below $4 per gallon.
Prices in the Phoenix area fell 19 cents this week to an average of $3.94 a gallon, continuing the downward trend.
The state average dropped 17 cents this week, down to $4.08 a gallon, and 70 cents down from a month ago. The decline has seen the state no longer be among the highest priced for gas.
Many Tempe stations have prices around $3.89 and Costco and Sam's Club report prices at $3.69.
“Crude oil prices continue to fall as the U.S. and Iran work toward a long-term deal,” said Aldo Vazquez, spokesperson for AAA Mountain West Group in the release. “Despite lower prices, demand could rise as a record number of Americans prepare to travel for Independence Day weekend, with 85% planning to drive to their destinations.”
At the close of Wednesday’s formal trading session, crude oil fell $2.87 to settle at $70.34 a barrel. The Energy Information Administration reports that crude oil inventories decreased by 6.1 million barrels from the previous week. At 412.1 million barrels, U.S. crude oil inventories are about 7% below the five-year average for this time of year.
Gasoline demand decreased last week from 9.21 million barrels per day to 8.77 million. Total domestic gasoline supply increased from 214.2 million barrels to 216.3 million. Gasoline production decreased last week, averaging 9.5 million barrels per day.
Arizona is no longer in the top 10 most expensive states. The top five are Hawaii ($5.53), California ($5.50), Washington ($5.27), Alaska ($4.93) and Oregon ($4.78).
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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