Big Idea

• Arizona gas prices have dropped slightly
• The lowest price in Arizona was at #3.13, and the highest price $4.59
• Oil prices are at nearly $80 per barrel
• Without improvement or stability in oil-producing countries, prices are likely to rise
• Read more...

Oil prices are likely to see an upward trend

(January 10, 2022) - Average gasoline prices in Phoenix have fallen 2.5 cents per gallon in the last week, averaging $3.66/g today, according to GasBuddy's survey of 1,094 stations in Phoenix. Prices in Phoenix are 16.7 cents per gallon lower than a month ago and stand $1.31/g higher than a year ago.

According to GasBuddy price reports, the cheapest station in Phoenix was priced at $3.13/g yesterday while the most expensive was $4.49/g, a difference of $1.36/g. The lowest price in the state yesterday was $2.49/g while the highest was $4.59/g, a difference of $2.10/g.

The national average price of gasoline has risen 2.3 cents per gallon in the last week, averaging $3.29/g today. The national average is down 5.5 cents per gallon from a month ago and stands 97.5 cents per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

Historical gasoline prices in Phoenix and the national average going back ten years:
January 10, 2021: $2.35/g (U.S. Average: $2.31/g)
January 10, 2020: $2.97/g (U.S. Average: $2.59/g)
January 10, 2019: $2.62/g (U.S. Average: $2.25/g)
January 10, 2018: $2.28/g (U.S. Average: $2.51/g)
January 10, 2017: $2.10/g (U.S. Average: $2.36/g)
January 10, 2016: $1.94/g (U.S. Average: $1.97/g)
January 10, 2015: $1.94/g (U.S. Average: $2.14/g)
January 10, 2014: $3.21/g (U.S. Average: $3.30/g)
January 10, 2013: $3.02/g (U.S. Average: $3.31/g)
January 10, 2012: $3.26/g (U.S. Average: $3.37/g)

Neighboring areas and their current gas prices:
Arizona- $3.58/g, down 3.0 cents per gallon from last week's $3.61/g.
Las Vegas- $3.76/g, down 2.6 cents per gallon from last week's $3.78/g.
Tucson- $3.37/g, down 3.3 cents per gallon from last week's $3.40/g. 

"Oil prices have remained stubbornly strong, touching nearly $80 per barrel last week, pushing gasoline prices higher even as U.S. gasoline demand starts to struggle. Some of this is typical seasonal weakness, but the lack of demand is likely enhanced by omicron cases surging and Americans who are just a bit more hesitant to get out right now," said Patrick De Haan, head of petroleum analysis for GasBuddy. "In addition, unrest in Kazakhstan, the 18th largest oil producer, is likely leading to impacts on oil production, while continued unrest in Libya also worries markets and overpowers the seasonal drop in gasoline demand. Without improvement or stability in oil producing countries, we're likely to continue to see upward pressure on oil prices."

GasBuddy is the authoritative voice for gas prices and the only source for station-level data spanning nearly two decades. Unlike AAA's once daily survey and the Lundberg Survey, updated once every two weeks based on a small fraction of U.S. gasoline stations, GasBuddy's survey updates 288 times every day from the most diverse list of sources covering nearly 150,000 stations nationwide, the most comprehensive and up-to-date in the country. GasBuddy data is accessible at http://prices.GasBuddy.com.

SOURCE GasBuddy