Pump Prices Plunge for Ninth Straight Week

Recent trend bucks wild claims of $5 gas this summer

Phoenix, Ariz., June 7, 2012. Pump prices across the state and country continued to plummet this week. Statewide, drivers are paying an average of $3.670 per gallon, a drop of more than a nickel from last week and 13 cents from last month.  Nationwide, the price of fuel decreased 6 cents to $3.560 per gallon, down 20 cents from last month.

The price of crude oil fluctuated slightly today as the Fed spoke of a jeopardized U.S. economy.  A disappointing job growth report in May, coupled with the European debt crisis and domestic economic concerns continue to exert downward pressure on the commodity. Crude continues to trade at a multi-month low, resulting in steady decreases at the pump – contradicting speculative claims of $5 gas from earlier this year.

“AAA was a temperate voice amid the fuel price hysteria that took place earlier this year, which underscores the importance of knowing who is making price predictions and whether they are a credible source, or have vested market interest,” said Linda Gorman, director of communications and public affairs for AAA Arizona. “Looking ahead, if the price of crude continues its current trend, it’s likely that we could see a $3.50 fuel average this summer, a far cry from the wild claims previously made about pump prices. However, these falling prices shouldn’t divert attention from the need to develop a long-term, comprehensive energy plan.”  

Tucson and Flagstaff hold the low and high state fuel averages at $3.565 and $3.822 per gallon, respectively. South Carolina and Washington hold the low and high price extremes for the lower 48 states at $3.163 and $4.227 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)

$3.628

-6.2

$3.887

$3.655

$3. 597

Flagstaff

$3.822

-3.6

$3.983

$3.900

$3.785

Glendale

$3.630

-6.5

$3.904

$3.659

$3.575

Peoria

$3.641

-6.0

$3.915

$3.685

$3.575

Phoenix (city)

$3.639

-5.7

$3.904

$3.699

$3.596

Pima County

$3.583

-3.1

$3.796

$3.800

$3.524

Prescott
(Tri-Cities)

$3.691

-4.3

$3.951

$3.747

$3.588

Scottsdale
(Scottsdale, Fountain Hills)

$3.720

-8.0

$3.997

$3.781

$3.710

Tucson

$3.565

-3.5

$3.789

$3.751

$3.520

Yuma

$3.772

-5.1

$3.971

$3.755

$3.663

Statewide

$3.670

-5.4

$3.899

$3.761

$3.626

National

$3.560

-6.0

$3.868

$3.861

$3.761

E-85

$3.134

-3.8

-

-

$3.226

*E85 MPG/BTU adjusted price

$4.124

-5.0

-

-

$4.245


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.

*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.