Phoenix gas prices on rise heading into Labor Day weekend

PHOENIX – Labor Day weekend gas prices are expected to be the lowest they’ve been in three years nationwide, but Arizona drivers are getting mixed results at the pump.

The price of a gallon of gas in Phoenix rose seven cents to $2.89 in the past week and was up four cents from this time a year ago, GasBuddy analyst Patrick DeHaan told KTAR News 92.3 FM on Monday.

The statewide average was $2.82, which was up five cents from a week ago but 12 cents lower than this time in 2018. It’s still significantly lower than this summer’s peak of around $3.17, DeHaan said.

GasBuddy predicted a national average of $2.55 for Labor Day weekend, a nearly 30 cent drop from last year and the lowest price for the holiday since it was $2.20 heading in 2016.

National average #gasprices have gone down for the sixth straight week! Analysts expect prices to continue this trend into the fall months as we transition to cheaper winter gasoline. https://t.co/oBOxjbav8r pic.twitter.com/QjjDGBbORx

— GasBuddy (@GasBuddy) August 26, 2019

DeHaan said the recent increase in Arizona is unusual this time of year, especially when there haven’t been any major weather incidents to disrupt refineries.

“Usually as we head towards the end of the summer gas prices are slowly declining due to a fall in demand and the anticipated change from summer to winter gasoline,” he said.

DeHaan said the uncertainty over trade negotiations between the U.S. and China has been impacting the oil market.

“On good days when there is optimism about … a possible trade deal, oil prices generally go up,” he said. “Whereas if there’s negative news and no deal on the table, oil prices generally go down.

“And that has really been a significant push – a lot of volatility in the price or oil because of those ongoing developments that seem to come out of left field.”

KTAR News 92.3 FM’s Jim Cross contributed to this report.

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