Pump Prices Subside for Second Straight Week
Phoenix, Ariz., April 12, 2012. This week, motorists across the state and country experienced a glimpse of relief from 16 weeks of unrelenting pain at the pump. Arizona’s statewide average dropped 1.4 cents this week to $3.876 per gallon. Nationally, prices decreased nearly three cents to an average of $3.907 per gallon.
This week, the price of crude oil fell to a seven week low, trading in the low $100 per barrel range. Downward pressure on the commodity can largely be attributed to dismal U.S. jobs data and reports of potential negotiations for a compromise with Iran on its nuclear enrichment program.
“From the falling price of crude to anemic demand, there are a variety of signs indicating that pump prices may have reached their peak,” said Linda Gorman, director of communications and public affairs for AAA Arizona. “However, it is important to note that we are still more than a month away from Memorial Day. Historically, pump prices peak just before this holiday, which marks the unofficial start of summer.”
Tucson and Scottsdale hold the low and high state fuel averages at $3.721 and $3.978 respectively. Wyoming and California hold the low and high price extremes for the lower 48 states at $3.626 and $4.245, 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)||$3.876||-2.5||$4.128||$4.094||$3.613|
|Scottsdale (Scottsdale, Fountain Hills)||$3.978||-1.3||$4.252||$4.226||$3.734|
|*E85 MPG/BTU adjusted price||$4.399||-0.4||-||-||$4.197|
AAA encourages motorists to use free price finding tools to help locate the cheapest gas near them:
- 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.