Fall is in the Air and at the Pump

 

Phoenix, Oct. 18, 2012. Across the state and country, fall is in the air – and at the pump. The national average has started to plunge, shedding 7.6 cents to $3.737 per gallon. Arizona prices have been trending lower since Monday, though the state fuel average is up 0.2 cents to $3.718 per gallon since last week.

 

The most significant factor behind the start of this price reversal is market correction. Over-buying that took place toward the end of September and beginning of October has been replaced by wide-scale selling. This has resulted in a spot price plunge across several markets, followed by a decrease in wholesale prices. Ultimately, it is a trend that should deliver long-awaited retail price relief.

 

“While Arizona pump prices have yet to post a week-over-week decline, current market factors have enabled prices across the state to stabilize and start to unwind,” said Linda Gorman, director of communications and public affairs for AAA Arizona. “Relief for Arizona motorists looks to be right around the corner.”

 

Tucson and Flagstaff hold the low and high state fuel averages at $3.470 and $3.904 per gallon, respectively. South Carolina and California hold the lowest and highest average prices for the lower 48 states at $3.472 and $4.546 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)

$3.704

-0.2

$3.960

$4.140

$3.284

Flagstaff

$3.904

+2.0

$4.089

$4.369

$3.574

Glendale

$3.703

-1.4

$3.976

$4.171

$3.313

Peoria

$3.689

+0.5

$3.949

$4.213

$3.276

Phoenix (city)

$3.711

+0.1

$3.974

$4.153

$3.300

Pima County

$3.488

-2.2

$3.699

$4.128

$3.239

Prescott
(Tri-Cities)

$3.822

+5.5

$4.017

$4.026

$3.418

Scottsdale
(Scottsdale, Fountain Hills)

$3.807

+1.7

$4.087

$4.221

$3.404

Tucson

$3.470

-2.5

$3.692

$4.113

$3.224

Yuma

$3.823

+3.1

$4.018

$4.105

$3.473

Statewide

$3.718

+0.2

$3.943

$4.189

$3.344

National

$3.737

-7.6

$4.062

$4.135

$3.469

E-85

$3.311

-15.2

-

-

$3.070

*E85 MPG/BTU adjusted price

$4.358

-19.9

-

-

$4.040

 

As an advocacy organization representing the motoring public, AAA offers a variety of free resources to help motorists keep fuel budgets in check, including: 

  • AAA Gas Price Alerts (AAA.com/gasalerts) offers users weekly fuel price text alerts.
  • AAA Mobile (AAA.com/mobile) provides directions and plots fuel prices along your travel route.

*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 about 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.