Falling gas prices may be ending


Average retail gasoline prices in Phoenix have risen 0.4 cents per gallon in the past week, averaging $2.12/g yesterday, according to GasBuddy’s daily survey of 1,094 gas outlets in Phoenix. This compares with the national average that has increased 1.4 cents per gallon in the last week to $2.27/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Phoenix during the past week, prices yesterday were 48.4 cents per gallon higher than the same day one year ago and are 0.9 cents per gallon lower than a month ago. The national average has decreased 7.1 cents per gallon during the last month and stands 57.9 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on February 13 in Phoenix have ranged widely over the last five years:

$1.63/g in 2016, $2.09/g in 2015, $3.24/g in 2014, $3.53/g in 2013 and $3.47/g in 2012.

Areas near Phoenix and their current gas price climate:

Arizona- $2.15/g, flat from last week’s $2.15/g.

Las Vegas- $2.45/g, up 1.6 cents per gallon from last week’s $2.44/g.

Tucson- $2.09/g, down 1.8 cents per gallon from last week’s $2.11/g.

“The era of falling gasoline prices will likely be coming to an end soon at a gas station near you,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. “Not to say declines are completely done, but over the next few weeks we’ll likely see more times when stations are raising their prices then dropping them, thanks to gasoline demand that will soon begin recovering and crude oil imports that will soon reflect OPEC’s lower output. The national average typically rises 35-65 cents from its low price, usually in February, through Memorial Day, and there’s no reason to believe the same won’t happen this year, so buckle up,” he said.