Big Idea

• Gas prices are rising across the country, national average has risen 4.0¢ per gallon
• The lowest price in Arizona is $1.71/gallon; the highest is $3.09/gallon
• Gas prices have reached their highest post-coronavirus level, thanks to Hurricane Laura
• There is a potential for a downward momentum in a few weeks

More decreases are coming to gas prices once Labor Day is over.

(August 31, 2020) - Phoenix gas prices have fallen 0.4 cents per gallon in the past week, averaging $2.38/g today, according to GasBuddy's daily survey of 1,094 stations. Gas prices in Phoenix are 3.5 cents per gallon lower than a month ago and stand 51.8 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Phoenix is priced at $1.99/g today while the most expensive is $2.69/g, a difference of 70.0 cents per gallon. The lowest price in the state today is $1.71/g while the highest is $3.09/g, a difference of $1.38/g.

The national average price of gasoline has risen 3.5 cents per gallon in the last week, averaging $2.22/g today. The national average is up 4.0 cents per gallon from a month ago and stands 34.4 cents per gallon lower than a year ago.

Historical gasoline prices in Phoenix and the national average going back ten years:
August 31, 2019: $2.89/g (U.S. Average: $2.57/g)
August 31, 2018: $2.85/g (U.S. Average: $2.83/g)
August 31, 2017: $2.25/g (U.S. Average: $2.51/g)
August 31, 2016: $2.06/g (U.S. Average: $2.22/g)
August 31, 2015: $2.53/g (U.S. Average: $2.47/g)
August 31, 2014: $3.38/g (U.S. Average: $3.43/g)
August 31, 2013: $3.34/g (U.S. Average: $3.58/g)
August 31, 2012: $3.63/g (U.S. Average: $3.83/g)
August 31, 2011: $3.32/g (U.S. Average: $3.61/g)
August 31, 2010: $2.68/g (U.S. Average: $2.65/g) 

Neighboring areas and their current gas prices:
Arizona- $2.30/g, up 1.2 cents per gallon from last week's $2.29/g.
Las Vegas- $2.65/g, down 0.7 cents per gallon from last week's $2.66/g.
Tucson- $2.12/g, down 0.4 cents per gallon from last week's $2.12/g.

"Gas prices have reached their highest post-coronavirus level as Hurricane Laura caused Gulf Coast refineries to shut, limiting production as gasoline demand edged higher," said Patrick De Haan, head of petroleum analysis for GasBuddy. "The rebound in demand comes with just a week left in the summer driving season and isn't expected to continue once the driving season wraps up, but while some may see prices tick higher over the next few days, more decreases are coming to gas prices once Labor Day is over as demand will likely move lower. In addition, the switch back to cheaper winter gasoline will happen in a few weeks, giving more potential downward momentum for 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 covering credit card transactions at 100,000 stations and the Lundberg Survey, updated once every two weeks based on 7,000 gas 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://FuelInsights.GasBuddy.com.

SOURCE GasBuddy