Happy Fuel Year!

Prices end 2012 at a yearlong low

 

As 2013 nears and the fiscal cliff looms, the downward trend in gas prices for some parts of the country ended – except in Arizona. This week, the state’s average fuel price slid 5.2 cents to $3.058 per gallon, while the national average rose 4.2 cents to $3.261 per gallon.

 

“Until now, prices have fallen steadily across the country for more than three months because of increasing supply, lower demand and economic concerns,” said Linda Gorman, director of communications and public affairs for AAA Arizona. “This week, the price of crude settled above $90, resulting in a price trend reversal in some parts of the country. So far, Arizona prices remain unaffected.”

 

With the New Year fast approaching, AAA would like to take the opportunity to recap the following Arizona fuel highlights of 2012:
 

  • Average price. Arizona’s 2012 average fuel price was $3.573. This is 19 cents more than Arizona’s 2011 average fuel price of $3.383 – the highest annual fuel average on record for the state.
  • High price. Arizona’s highest fuel price this year was $3.902, which occurred March 28. This is nearly 14 cents more than the state’s 2011 high fuel price of $3.764. However, it is about 19 cents less than Arizona’s all-time high fuel price of $4.090, which occurred in July 2008.
  • Low price. Arizona’s lowest average fuel price for the year is today’s state average of $3.058. This is about 15 cents more than Arizona’s 2011 low fuel price of $2.905.
  • Increases vs. decreases. Arizona motorists saw pump prices drop more often than they saw them climb in 2012. This year, the statewide average rose 23 weeks, and fell 28 weeks.
  • Over/under. The statewide average spent a mere 28 days at $3.25 or less (including Dec. 28-31 projected prices); 127 days from $3.26 to $3.50; 126 days of $3.51 to $3.75; and 85 days at $3.75 or more.   

“As indecision continues in Washington over the fiscal cliff, prices are being adversely affected in several states across the country,” Gorman said. “The action – or inaction – in the coming days will likely determine the direction of fuel prices in the New Year. If a deal is reached, it will likely be seen as positive for the U.S. economy, which could cause prices to increase. If a deal is not reached, markets are likely to slump, which could cause prices to move even lower."
 

Tucson and Flagstaff hold the low and high state fuel averages at $2.872 and $3.395 per gallon, respectively. Missouri and New York hold the lowest and highest average prices for the lower 48 states at $3.003 and $3.726 per gallon, respectively.

 

City

Today’s price

Change from last week

Change from last month

Last year’s price

East Valley
(Mesa, Gilbert, Chandler, Tempe, Ahwatukee, Apache Junction, Queen Creek)

$3.001

-5.1

-36.0

$3.125

Flagstaff

$3.395

-7.0

-30.7

$3.308

Glendale

$3.003

-4.4

-35.7

$3.122

Peoria

$3.006

-2.8

-36.2

$3.083

Phoenix (city)

$3.008

-4.7

-35.1

$3.118

Prescott
(Tri-Cities)

$3.133

-8.7

-34.9

$3.214

Scottsdale
(Scottsdale, Fountain Hills)

$3.141

-5.9

-31.6

$3.234

Tucson

$2.872

-3.3

-30.0

$3.025

Yuma

$3.164

-1.4

-28.7

$3.259

Statewide

$3.058

-5.2

-34.5

$3.152

National

$3.261

+4.2

-15.8

$3.231

 

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’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.