Big Idea

• Arizona prices are down about 4.7¢/gal
• The lowest price in AZ was at $2.99/g, the highest price in AZ was $5.09/g
• The lowest price in Phoenix is at $3.19/g, the highest in Phoenix is at $3.99/g
• There was a sudden drop in the price of oil this week, leading to lower prices at the pump
  
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Enjoy the low gas prices while you can!

Average gasoline prices in Phoenix have fallen 4.7 cents per gallon in the last week, averaging $3.53/g today, according to GasBuddy's survey of 1,094 stations in Phoenix. Prices in Phoenix are 7.8 cents per gallon higher than a month ago and stand 19.3 cents per gallon lower than a year ago. The national average price of diesel has fallen 5.2 cents in the last week and stands at $4.60 per gallon.

According to GasBuddy price reports, the cheapest station in Phoenix was priced at $3.19/g yesterday while the most expensive was $3.99/g, a difference of 80.0 cents per gallon. The lowest price in the state yesterday was $2.99/g while the highest was $5.09/g, a difference of $2.10/g.

The national average price of gasoline has fallen 4.4 cents per gallon in the last week, averaging $3.44/g today. The national average is up 17.5 cents per gallon from a month ago and stands 1.7 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 6, 2022: $3.72/g (U.S. Average: $3.42/g)
• February 6, 2021: $2.46/g (U.S. Average: $2.46/g)
• February 6, 2020: $2.95/g (U.S. Average: $2.46/g)
• February 6, 2019: $2.45/g (U.S. Average: $2.29/g)
• February 6, 2018: $2.36/g (U.S. Average: $2.61/g)
• February 6, 2017: $2.11/g (U.S. Average: $2.26/g)
• February 6, 2016: $1.72/g (U.S. Average: $1.74/g)
• February 6, 2015: $1.96/g (U.S. Average: $2.16/g)
• February 6, 2014: $3.23/g (U.S. Average: $3.26/g)
• February 6, 2013: $3.37/g (U.S. Average: $3.55/g)

Neighboring areas and their current gas prices:

• Arizona- $3.47/g, down 4.4 cents per gallon from last week's $3.52/g.
• Las Vegas- $3.89/g, up 2.9 cents per gallon from last week's $3.86/g.
• Tucson- $3.28/g, down 7.4 cents per gallon from last week's $3.35/g. 

"For the first time in 2023, the national average price of gasoline has seen a weekly decline, primarily thanks to a sharp and sudden drop in the price of oil," said Patrick De Haan, head of petroleum analysis at GasBuddy. "While the decline in both gasoline and diesel prices is terrific, it’s not unusual to see prices falling in February, which tends to be the month with some of the lowest gasoline prices of the year thanks to seasonally weak demand. For diesel, we're likely to see more declines, and potentially much more significant in the weeks ahead as imports of distillate have accelerated, leading to a sell off. And, with warmer weather ahead, demand may struggle as well. However, especially for gasoline, high levels of coming maintenance and the eventual transition to summer gasoline could lead today's declines to reverse down the road. For now, motorists should enjoy the decline, but be wary as we're likely to eventually see increases again down the road."

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