Big Idea

• Phoenix gas prices have fallen .5¢
• The lowest gas price in Arizona is $2.65/gal; the highest $4.09/gal
• Nationally, the average price of gasoline is rising
• Increase in price is likely to continue
• Read more...

Last week saw the national average hit its highest level in two years... (May 3, 2021) - Phoenix gas prices have fallen 0.5 cents per gallon in the past week, averaging $3.05/g today, according to GasBuddy's daily survey of 1,094 stations in Phoenix. Gas prices in Phoenix are 5.4 cents per gallon lower than a month ago and stand 89.9 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Phoenix is priced at $2.69/g today while the most expensive is $3.49/g, a difference of 80.0 cents per gallon. The lowest price in the state today is $2.65/g while the highest is $4.09/g, a difference of $1.44/g.

The national average price of gasoline has risen 0.7 cents per gallon in the last week, averaging $2.89/g today. The national average is up 1.8 cents per gallon from a month ago and stands $1.13/g higher than a year ago.

Historical gasoline prices in Phoenix and the national average going back ten years:
May 3, 2020: $2.15/g (U.S. Average: $1.75/g)
May 3, 2019: $3.20/g (U.S. Average: $2.90/g)
May 3, 2018: $2.87/g (U.S. Average: $2.82/g)
May 3, 2017: $2.25/g (U.S. Average: $2.36/g)
May 3, 2016: $2.15/g (U.S. Average: $2.22/g)
May 3, 2015: $2.66/g (U.S. Average: $2.62/g)
May 3, 2014: $3.50/g (U.S. Average: $3.68/g)
May 3, 2013: $3.43/g (U.S. Average: $3.52/g)
May 3, 2012: $3.82/g (U.S. Average: $3.80/g)
May 3, 2011: $3.74/g (U.S. Average: $3.97/g) 

Neighboring areas and their current gas prices:
Arizona- $3.05/g, down 1.2 cents per gallon from last week's $3.06/g.
Las Vegas- $3.50/g, up 2.5 cents per gallon from last week's $3.48/g.
Tucson- $2.89/g, down 1.3 cents per gallon from last week's $2.90/g.

"The nation's gas prices perked up again last week as oil prices advanced to fresh multi-year highs on Covid improvements overseas and the switch to summer gasoline, which is basically now complete," said Patrick De Haan, head of petroleum analysis for GasBuddy. "Last week saw the national average hit its highest level in two years, and with continued recovery in gasoline demand, the increase in price is likely to continue into the future. Americans may now want to brace themselves for the possibility of a $3/gal national average in the weeks ahead, as demand remains strong as Americans take to the roads. The question going forward is how much demand will continue to recover and rise- will it lead to record summer gasoline demand? We indeed may see some weeks with new records as Americans get in their cars this summer- but the question is how many will do so? That will determine how much higher prices will go."

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