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.
Gas in Tempe sits between $4.30 and $4.60. The cheapest gas is Sam's Club at $4.26 per gallon while others like QuickTrip and Circle K are around $4.55 per gallon.
“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.
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.
In the Valley, according to gasbuddy.com, the cheapest gas can be found at five locations:
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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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