The average price of gasoline in Phoenix has fallen by 22 cents in the last week, making it about $4.12 per gallon, according to a recent survey by GasBuddy. This represents a drop of 87 cents compared to a month ago, and is 45 cents less than a year ago. Across the US, gasoline prices have fallen for six consecutive weeks, with the national average now at its lowest level since March, and the West Coast seeing the largest declines.
Gasoline Prices in Phoenix Drop Below National Average
Gasoline prices around Phoenix have seen a significant drop, with the average price per gallon falling by 22 cents in the last week. The average price is now approximately $4.12 per gallon, as per the latest GasBuddy’s weekly survey.
When compared to a month ago, the average price has tumbled by 87 cents. Year-on-year, the average price is 45 cents less. The drop in Phoenix’s average price surpasses that of the national average. However, the current national average price for a gallon of gasoline stands at $3.43.
The survey recorded the lowest price in Phoenix at $3.43 per gallon, while the highest was $6.09. The lowest price statewide was $3.13 per gallon.
Patrick De Haan, the head of petroleum analysis at GasBuddy, revealed that gasoline prices have been on a downward trend for six continuous weeks in almost every state. “The West Coast has seen some of the largest declines, with California experiencing an impressive 80-cent drop over the past month,” he stated.
According to De Haan, this disproves the misconception that prices don’t fall as fast as they rise, emphasizing the swift decrease. He anticipates that this trend will push Arizona’s average gasoline price below $4 this week.