Pump Prices Continue New Year Climb
NOTE: AAA Fuel Gauge data should include attribution to AAA.
Phoenix, Ariz., Jan. 12, 2012. For the second week in 2012, motorists are continuing to experience pump price hikes. Statewide, drivers are currently paying an average of $3.291 per gallon, an increase of 4.1 cents from last week. Nationwide, the average fuel price is $3.382, an increase of 6.3 cents from last week.
While geopolitical tensions continue to support crude’s current price in the low $100 per barrel range, dismal demand is helping temper the commodity’s price. A recent SpendingPulse report revealed that U.S. gasoline demand has now fallen for ten consecutive months, and according to the Oil Price Information Service, U.S. oil demand has slipped to the lowest weekly number in a dozen years.
“While weak demand is tempering crude’s recent run up, global tensions currently have a louder voice,” said Linda Gorman, director of communications and public affairs for AAA Arizona. “Should these tensions continue as seasonal demand picks up in the spring and summer, it’s possible that we could see pump prices come close to or even exceed our all-time high. However, it is unlikely that it would stay at that price point for an extended period of time.”
Tucson and Yuma hold the low and high state fuel averages at $3.150 and $3.384 per gallon, respectively. Utah and California hold the low and high price extremes for the lower 48 states at $2.920 and $3.703 per gallon, respectively.
|City||Today’s Price||Change from Last Week||Premium||Diesel||Last Year’s Price|
|East Valley (Mesa, Gilbert, Chandler, Tempe, Ahwatukee, Apache Junction, Queen Creek)||$3.280||+5.2||$3.519||$3.952||$2.928|
|Scottsdale (Scottsdale, Fountain Hills)||$3.359||+4.6||$3.637||$3.986||$3.033|
|*E85 MPG/BTU adjusted price||$3.986||+6.3||-||-||$3.473|
AAA has a variety of resources to help motorists save on fuel:
- Fuel Price Finder (AAA.com/fuelfinder) locates the lowest fuel price in your area.
- AAA Gas Price Alerts (AAA.com/gasalerts) offers users weekly fuel price text alerts.
- Fuel Cost Calculator (FuelCostCalculator.AAA.com) helps budget travel expenses.
- TripTik Mobile (AAA.com/mobile) plots fuel prices along your travel route.
- AAA's Member Rewards Visa® Credit Card (AAA.com/financial/AAAvisa.htm) accumulates double points on fuel purchases.
*The BTU-adjusted price of E-85 is the nationwide average price of E-85 adjusted to reflect the lower energy content as expressed in British Thermal Units. The BTU-adjusted price is calculated and displayed as part of AAA's Fuel Gauge Report because according to the Energy Information Administration, E-85 delivers approximately 25 percent fewer BTUs by volume than conventional gasoline. Because "flexible fuel" vehicles can operate on conventional fuel and E-85, the BTU-adjusted price of E-85 is essential to understanding the cost implications of each fuel choice for consumers.
AAA’s Fuel Gauge Report includes data from gasoline stations in every Arizona community. Local prices in some communities might be higher or lower than the averages shown here. This service is updated daily by the Oil Price Information Service (OPIS) with average national, state and local prices for gasoline, diesel and E-85. Every day more than 100,000 stations are surveyed in cooperation with Wright Express for unmatched statistical reliability.