Pump Prices Inch Downward

Arizona resists West Coast price surges

 

Phoenix, Oct. 4, 2012. Arizona and the nation experienced a slight drop in gas prices this week, perhaps painting a rosier picture for the coming weeks. The statewide average shed nearly 2 cents to $3.682 per gallon, while the national average dropped a little more than a penny to $3.784 per gallon. Prices decreased nationwide 5 cents a gallon from Aug. 31 to Sept 30, the first month-to-month decline since June.

 

The price of crude has continued to decline, although national oil stockpiles have fallen. Reports that Iraq is aiming to raise crude oil production to 3.4 million b/d and exports to 2.6 million b/d by year-end should apply downward pressure on the commodity. Conversely, due to low demand and the impending switch to winter fuel blend on the West Coast, refiners are offloading an excess of summer blend fuel to other markets, resulting in a temporary tightening of supply in the region and a spike in pump prices. 

 

“The issue on the West coast is fairly isolated short-term problem that will likely be resolved once refiners have completed their switch to winter blends,” said Linda Gorman, director of communications and public affairs for AAA Arizona. “Since Arizona receives its supply almost equally from the East and West lines, we’re moderately insulated from the wild price swings other states may experience.”

 

Tucson and Flagstaff hold the low and high state fuel averages at $3.523 and $3.887 per gallon, respectively. South Carolina holds the lowest average price for the lower 48 states at $3.495 per gallon, while California holds the highest average price at $4.315 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)

$3.645

-3.9

$3.900

$4.048

$3.296

Flagstaff

$3.887

-0.4

$4.095

$4.370

$3.600

Glendale

$3.661

-1.6

$3.923

$4.074

$3.317

Peoria

$3.634

-3.5

$3.902

$4.141

$3.302

Phoenix (city)

$3.660

-3.2

$3.920

$4.085

$3.323

Pima County

$3.539

-3.5

$3.745

$4.092

$3.287

Prescott
(Tri-Cities)

$3.728

+2.6

$3.940

$4.225

$3.479

Scottsdale
(Scottsdale, Fountain Hills)

$3.773

-2.2

$4.053

$4.213

$3.420

Tucson

$3.523

-3.6

$3.739

$4.072

$3.273

Yuma

$3.759

-2.8

$3.963

$4.041

$3.485

Statewide

$3.682

-1.9

$3.906

$4.134

$3.371

National

$3.784

-1.1

$4.087

$4.084

$3.408

E-85

$3.356

-3.0

-

-

$3.058

*E85 MPG/BTU adjusted price

$4.417

-4.0

-

-

$4.024

 

 

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.