Fuels so Good: Gas Prices Are Starting to Stabilize

 

Phoenix, Sept. 20, 2012. After a seven-week price surge, fuel prices have begun to level out. The statewide average edged up 1.1 cents to $3.736 per gallon, while the national average fell 2.3 cents to $3.846 per gallon.

 

This week, the price of crude oil fell to the low $90-per-barrel range, the lowest price point for the commodity in six weeks. Several factors influenced this downward price direction, from  the Gulf Coast refining region making a full recovery from Hurricane Isaac to Saudi Arabia pledging to bump up output in order to keep prices in check.

 

“After flirting with $100-per-barrel last week, the price of crude falling to the low $90-per-barrel range is encouraging news for motorists,” said Linda Gorman, director of communications and public affairs for AAA Arizona. “Arizona gas prices are starting to show signs of stabilization and should start to reverse course in the near future, barring unforeseen circumstances.”

 

Tucson and Flagstaff hold the low and high state fuel averages at $3.614 and $3.886 per gallon, respectively. Mississippi and South Carolina both hold the lowest average price for the lower 48 states at $3.611 per gallon, while California holds the highest average price at $4.149 per gallon.
 

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)

$3.736

+3.2

$3.995

$4.241

$3.390

Flagstaff

$3.886

+1.7

$4.066

$4.417

$3.646

Glendale

$3.726

+0.9

$3.985

$4.278

$3.401

Peoria

$3.702

+1.6

$3.943

$4.256

$3.359

Phoenix (city)

$3.731

+1.4

$3.982

$4.235

$3.409

Pima County

$3.624

-0.4

$3.840

$4.261

$3.334

Prescott
(Tri-Cities)

$3.715

+1.9

$3.961

$4.322

$3.511

Scottsdale
(Scottsdale, Fountain Hills)

$3.809

+2.9

$4.089

$4.314

$3.496

Tucson

$3.614

-0.3

$3.834

$4.244

$3.322

Yuma

$3.846

+0.6

$4.038

$4.207

$3.571

Statewide

$3.736

+1.1

$3.966

$4.273

$3.451

National

$3.846

-2.3

$4.132

$4.120

$3.580

E-85

$3.494

+6.3

-

-

$3.195

*E85 MPG/BTU adjusted price

$4.598

+8.3

-

-

$4.204

 

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

*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.