***NOTE: AAA Fuel Gauge data may be used on a daily basis by
news media Web sites, but should include attribution to AAA.***
Pump Prices Recede on Economic Concerns
Phoenix, Ariz., January 31, 2008 – Football fans filling up before heading out to the Super Bowl and related festivities this weekend are enjoying another week of relief at the pump, as fuel prices drop for the third consecutive week. Across the state, the current average for a gallon of regular unleaded gasoline is $2.884 per gallon, a drop of over three cents from last week. Peoria drivers have claimed the state’s lowest fuel price at $2.818 per gallon, while Flagstaff drivers continue to pay the most for fuel at $3.071 per gallon. Flagstaff motorists are currently the only drivers paying above $3 per gallon in the state. Motorists fueling up in the Super Bowl’s host city of Glendale will pay an average of $2.847 per gallon, a drop of four cents over last week. For the first time in 2008, the national average has dipped below the $3 per barrel mark and is currently sitting at $2.986 per gallon, a drop of two cents from last week.
It is important to note, however, that drivers in the state are still paying an average of nearly 60 cents more for fuel than they were this time last year.
This week, the Department of Energy reported a third consecutive week of growth in both crude oil and gasoline inventories. However, as the economy continues to slow and economic worries grow, the agency also reported that demand for fuel has dropped to a two-year low. This news came after the Federal Reserve’s announcement yesterday to cut interest rates again for the second time in less than 10 days.
“Normally, an interest rate cut tends to apply upward pressure to oil prices as it weakens the dollar against other currencies and the dollar must be converted to the currencies of oil producing countries,” said Linda Gorman, public affairs manager for AAA Arizona. “However, this is not currently the case as oil prices have begun to stabilize over the last few weeks as a result of motorists cutting back on driving due to economic concerns.”
The cheapest gasoline in the continental U.S. is in Missouri, where unleaded regular is $2.797 per gallon. New Yorkers are paying the most for gasoline in the country at $3.260 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) |
$2.848 |
-4.6 |
$3.142 |
$3.343 |
$2.233 |
East Valley
(Mesa, Gilbert, Chandler, Tempe, Ahwatukee, Apache, Queen Creek) |
$2.833 |
-4.7 |
$3.125 |
$3.346 |
$2.233 |
Glendale |
$2.847 |
-4.2 |
$3.140 |
$3.362 |
$2.229 |
Peoria |
$2.818 |
-4.8 |
$3.109 |
$3.339 |
$2.203 |
Scottsdale
(Scottsdale, Fountain Hills) |
$2.931 |
-5.4 |
$3.233 |
$3.380 |
$2.316 |
Tucson |
$2.825 |
-1.9 |
$3.117 |
$3.365 |
$2.141 |
Prescott
(Tri-Cities) |
$2.886 |
-7.7 |
$3.183 |
$3.357 |
$2.174 |
Pima County |
$2.838 |
-1.7 |
$3.131 |
$3.385 |
$2.160 |
Flagstaff |
$3.071 |
+1.4 |
$3.387 |
$3.433 |
$2.288 |
Yuma |
$2.859 |
-3.1 |
$3.154 |
$3.230 |
$2.225 |
Statewide |
$2.884 |
-3.6 |
$3.181 |
$3.362 |
$2.233 |
National |
$2.986 |
-2.0 |
$3.286 |
$3.377 |
$2.151 |
| E85 |
$2.445 |
-1.0 |
N/A |
N/A |
N/A |
E85 MPG/BTU
Adjusted Price |
$3.218 |
-1.3 |
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. |
