Big Idea

• Phoenix gas prices are $1.19 higher than a year ago, and twice as much as two years ago
• Arizona prices have dropped across the state, but the average is over $4.44/g
• The national average is at $3.77/gallon
• Many regions could see falling gas prices as demand continues to decline seasonally, especially with a significant economic slowdown
• Read more...

Seasonality is king in driving prices

Average gasoline prices in Phoenix have fallen 10.2 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 41.7 cents per gallon higher than a month ago and stand $1.19/g higher than a year ago. The national average price of diesel has risen 4.0 cents in the last week and stands at $5.30 per gallon.

According to GasBuddy price reports, the cheapest station in Phoenix was priced at $3.99/g yesterday while the most expensive was $5.29/g, a difference of $1.30/g. The lowest price in the state yesterday was $3.35/g while the highest was $6.09/g, a difference of $2.74/g.

The national average price of gasoline has fallen 9.3 cents per gallon in the last week, averaging $3.77/g today. The national average is up 10.2 cents per gallon from a month ago and stands 41.2 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:
October 24, 2021: $3.50/g (U.S. Average: $3.36/g)
October 24, 2020: $2.30/g (U.S. Average: $2.15/g)
October 24, 2019: $2.98/g (U.S. Average: $2.61/g)
October 24, 2018: $2.93/g (U.S. Average: $2.84/g)
October 24, 2017: $2.32/g (U.S. Average: $2.45/g)
October 24, 2016: $2.12/g (U.S. Average: $2.22/g)
October 24, 2015: $2.11/g (U.S. Average: $2.20/g)
October 24, 2014: $2.96/g (U.S. Average: $3.06/g)
October 24, 2013: $3.17/g (U.S. Average: $3.31/g)
October 24, 2012: $3.69/g (U.S. Average: $3.62/g)

Neighboring areas and their current gas prices:
Arizona- $4.36/g, down 8.6 cents per gallon from last week's $4.44/g.
Las Vegas- $4.99/g, down 20.9 cents per gallon from last week's $5.20/g.
Tucson- $3.61/g, down 7.2 cents per gallon from last week's $3.68/g. 

"Average gas prices have declined for the second straight week with significant declines in the West and Great Lakes having an oversized effect on the drop in the national average," said Patrick De Haan, head of petroleum analysis at GasBuddy. "With oil prices struggling a bit after reaching $93 after OPEC+'s decision to cut production, many regions could see falling gas prices again this week as demand continues to decline seasonally, especially if more data points to a significant economic slowdown. While gasoline prices have seen a large drop, diesel prices have been somewhat mixed, with prices heading higher in the Northeast as inventories drop to extremely tight levels ahead of the heating oil season. Motorists are reminded that the decline in gasoline prices is seasonal and should continue into the fall, and is unrelated to the coming election. Seasonality is king in driving prices, not the desires or hopes of politicians."

GasBuddy is the authoritative voice for gas prices and the only source for station-level data. 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