***NOTE: AAA Fuel Gauge data may be used on a daily basis by
news media Web sites, but should include attribution to AAA.***
Fuel Prices Increase as Crude Inches Down From Record High
Phoenix, Ariz., January 10, 2008 – Across the state, motorists are continuing to feel a pinch in their wallets as gasoline prices trek upward for the second straight week. Currently, the statewide average for a gallon of regular unleaded gasoline is sitting at $2.994 per gallon, an increase of just over two cents from last week. Tucson drivers continue to pay the state’s lowest fuel price at $2.921 per gallon, while Flagstaff drivers continue to pay the most for fuel at $3.116 per gallon. Nationally, the current average is $3.100 per gallon, a jump of almost a nickel from last week.
The Energy Information Administration’s (EIA) report revealed both good and bad news this week. On the up side, the agency reported an increase in gasoline inventories. On the down side, the EIA reported a drop in crude inventories for the eighth consecutive week, which places inventories at their lowest level since October, 2004. Also this week, the agency released its Short-Term Energy Outlook, which forecasts the energy market through 2009. The outlook predicts that oil supplies will remain tight in 2008 but will ease in 2009. The EIA also predicts that crude will average $87 per barrel in 2008 and will fall to $82 per barrel in 2009 as many new oil production projects are scheduled to come online.
“If the agency’s predictions ring true, Arizona motorists are not likely to see a significant drop in prices at the pump in the coming weeks as gasoline prices will hover around the $3 mark well into the year, and could soar to new record highs this Spring,” said AAA Arizona Public Affairs Manager Linda Gorman. “It is also important to keep in mind that February refinery maintenance is just around the corner, which is a time when the fuel market can be even more erratic due to the fact that refineries briefly shutdown to begin producing warm-weather fuels.”
The cheapest gasoline in the continental U.S. is in Colorado, where unleaded regular is $2.892 per gallon. California has the highest priced gasoline in the country at $3.346 per gallon. Motorists can visit www.AAAAZ.com/news for the latest fuel price information and gas saving tips and go to www.AAA.com/fuelfinder to locate the station with the cheapest gas in their neighborhood or along their commute route. They can also visit AAA’s Fuel Cost Calculator at www.fuelcostcalculator.com, which can help drivers plan out their fuel costs so they can budget their travel expenses in advance. AAA members who use their AAA Visa credit card can get a rebate of up to five percent on gasoline purchases made at the pump. Members can also flash their AAA membership card to save at over 100 of the auto club’s Show Your Card & Save partners.
City |
Today’s Price |
Change from last week |
Premium |
Diesel |
Last Year’s Price |
Phoenix (city) |
$2.960 |
+2.5 |
$3.265 |
$3.406 |
$2.363 |
East Valley
(Mesa, Gilbert, Chandler, Tempe, Ahwatukee, Apache, Queen Creek) |
$2.950 |
+2.2 |
$3.254 |
$3.392 |
$2.358 |
Glendale |
$2.957 |
+1.9 |
$3.261 |
$3.388 |
$2.360 |
Peoria |
$2.955 |
+2.8 |
$3.260 |
$3.393 |
$2.322 |
Scottsdale
(Scottsdale, Fountain Hills) |
$3.052 |
+2.1 |
$3.367 |
$3.425 |
$2.423 |
Tucson |
$2.921 |
+2.1 |
$3.221 |
$3.448 |
$2.230 |
Prescott
(Tri-Cities) |
$3.021 |
+1.6 |
$3.332 |
$3.413 |
$2.229 |
Pima County |
$2.933 |
+2.6 |
$3.236 |
$3.458 |
$2.243 |
Flagstaff |
$3.116 |
+3.9 |
$3.437 |
$3.495 |
$2.386 |
Yuma |
$3.028 |
+4.6 |
$3.340 |
$3.308 |
$2.365 |
Statewide |
$2.994 |
+2.2 |
$3.303 |
$3.426 |
$2.337 |
National |
$3.100 |
+4.8 |
$3.411 |
$3.451 |
$2.288 |
| E85 |
$2.539 |
+3.1 |
N/A |
N/A |
N/A |
E85 MPG/BTU
Adjusted Price |
$3.341 |
+4.0 |
N/A |
N/A |
N/A |
**The BTU-adjusted price of E-85 is the nationwide average price of E-85 adjusted to reflect the lower energy content as expressed in British Thermal Units - and hence miles per gallon - available in a gallon of E-85 as compared to the same volume of conventional gasoline. The BTU-adjusted price calculated by OPIS and AAA is not an actual retail average price paid by consumers. It is calculated and displayed as part of AAA's Fuel Gauge Report because according to the Energy Information Administration E-85 delivers approximately 25 percent fewer BTUs by volume than conventional gasoline. Because "flexible fuel" vehicles can operate on conventional fuel and E-85, the BTU-adjusted price of E-85 is essential to understanding the cost implications of each fuel choice for consumers.
AAA Arizona’s Weekly Fuel Gauge includes data from gasoline stations in every Arizona community. However, only major metropolitan areas are shown in the table above. Local prices in some communities might be higher or lower than the averages shown here. |
