Gas prices saw their sharpest rise in months
Big Idea
- Oil prices surged to $93/barrel
- The national average is at the highest level since 2014
- Motorists should expect even more price increases
- Ultimately the national average could be pushed to record territory by summer
- Read more...
The price surge has begun in Arizona
(February 7, 2022) - Average gasoline prices in Phoenix have risen 10.9 cents per gallon in the last week, averaging $3.72/g today, according to GasBuddy's survey of 1,094 stations in Phoenix. Prices in Phoenix are 4.8 cents per gallon higher than a month ago and stand $1.26/g higher than a year ago.
According to GasBuddy price reports, the cheapest station in Phoenix was priced at $3.12/g yesterday while the most expensive was $4.29/g, a difference of $1.17/g. The lowest price in the state yesterday was $2.90/g while the highest was $4.69/g, a difference of $1.79/g.
The national average price of gasoline has risen 8.0 cents per gallon in the last week, averaging $3.42/g today. The national average is up 12.3 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:
February 7, 2021: $2.46/g (U.S. Average: $2.45/g)
February 7, 2020: $2.95/g (U.S. Average: $2.43/g)
February 7, 2019: $2.45/g (U.S. Average: $2.30/g)
February 7, 2018: $2.35/g (U.S. Average: $2.60/g)
February 7, 2017: $2.11/g (U.S. Average: $2.26/g)
February 7, 2016: $1.71/g (U.S. Average: $1.74/g)
February 7, 2015: $1.98/g (U.S. Average: $2.17/g)
February 7, 2014: $3.23/g (U.S. Average: $3.26/g)
February 7, 2013: $3.38/g (U.S. Average: $3.56/g)
February 7, 2012: $3.43/g (U.S. Average: $3.48/g)
Neighboring areas and their current gas prices:
Arizona- $3.63/g, up 8.4 cents per gallon from last week's $3.54/g.
Las Vegas- $3.81/g, up 6.0 cents per gallon from last week's $3.75/g.
Tucson- $3.44/g, up 10.2 cents per gallon from last week's $3.33/g.
“Gas prices saw their sharpest rise in months last week as oil surged to $93 per barrel, on continued concerns over Russia invading Ukraine and that there won't be enough supply to meet demand come this summer," said Patrick De Haan, head of petroleum analysis at GasBuddy. "With the national average at its highest level since 2014, the news is grim: motorists should expect even more price increases, with the larger jumps coming later this spring as a confluence of seasonal factors and the potential flare up in geopolitical tensions. Ultimately, the national average could be pushed to record territory by the start of the summer driving season."
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
