Big Idea

• COVID cases in China surged, affecting oil demand
• Biden’s announcement for release of Strategic Petroleum Reserve helped with a reduction
• Cheapest station in Arizona was $4.14, the highest $5.89
• National average is up 25.5¢/g from one month ago
• Read more...

The US tries to raise oil supply 

(April 4, 2022) - Average gasoline prices in Phoenix have fallen 3.5 cents per gallon in the last week, averaging $4.69/g today, according to GasBuddy's survey of 1,094 stations in Phoenix. Prices in Phoenix are 66.3 cents per gallon higher than a month ago and stand $1.59/g higher than a year ago.

According to GasBuddy price reports, the cheapest station in Phoenix was priced at $4.29/g yesterday while the most expensive was $5.39/g, a difference of $1.10/g. The lowest price in the state yesterday was $4.14/g while the highest was $5.89/g, a difference of $1.75/g.

The national average price of gasoline has fallen 5.4 cents per gallon in the last week, averaging $4.17/g today. The national average is up 25.5 cents per gallon from a month ago and stands $1.31/g 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:
April 4, 2021: $3.10/g (U.S. Average: $2.86/g)
April 4, 2020: $2.48/g (U.S. Average: $1.90/g)
April 4, 2019: $2.87/g (U.S. Average: $2.73/g)
April 4, 2018: $2.62/g (U.S. Average: $2.66/g)
April 4, 2017: $2.21/g (U.S. Average: $2.35/g)
April 4, 2016: $2.15/g (U.S. Average: $2.06/g)
April 4, 2015: $2.33/g (U.S. Average: $2.39/g)
April 4, 2014: $3.38/g (U.S. Average: $3.57/g)
April 4, 2013: $3.69/g (U.S. Average: $3.63/g)
April 4, 2012: $3.91/g (U.S. Average: $3.93/g)

Neighboring areas and their current gas prices:
Arizona- $4.64/g, down 3.2 cents per gallon from last week's $4.68/g.
Las Vegas- $5.26/g, down 3.8 cents per gallon from last week's $5.30/g.
Tucson- $4.43/g, down 4.2 cents per gallon from last week's $4.47/g. 

“Oil prices fell last week as Covid cases in China surged, prompting restrictions on movements and hurting oil demand. Meanwhile, President Biden's announcement that the U.S. would be releasing 180 million barrels from the Strategic Petroleum Reserve caused an even further decline in oil, leading gas prices in nearly all areas of the country to fall over the last week," said Patrick De Haan, head of petroleum analysis at GasBuddy. "So long as oil prices remain under $100 per barrel and there's no escalations in Russia's war on Ukraine, we may be poised to see gas prices decline again this week as the U.S. and other countries try to raise oil supply to tip prices lower."

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.