Arizona gas prices on the fall heading into Memorial Day weekend
May 21, 2024, 12:14 PM
Gas prices are on the decline in Arizona. (Photo by Brandon Bell/Getty Images)
(Photo by Brandon Bell/Getty Images)
PHOENIX — Arizona drivers will get the benefit of decreasing gas prices heading into Memorial Day weekend.
Prices have been on the decline, with the Phoenix and statewide averages falling below $4.00 a gallon as of Tuesday, according to GasBuddy.
Tom Kloza, global head of energy analysis at price reporting agency Oil Price Information Service, told KTAR News 92.3 FM that this isn’t the end for lower prices.
“I mean, there’s no question your prices are going down in the next 30 days,” Kloza said.
Why are gas prices decreasing in Arizona?
Kloza says there’s a good reason Arizonans are paying less at the pump.
“Really what’s happened is there was a lot of work on Southern California and Northern California refineries but they’re finishing up that now, so it looks like pretty clear sailing into at least the early part of the summer,” Kloza said.
The statewide average was $4.05 at the start of May and has dropped to $3.89. Phoenix has had a similar drop from $4.19 a gallon to $3.99, according to GasBuddy.
Arizonans are still paying more than the national average, which is hovering around $3.60 a gallon.
“I don’t know if it’s going to spur people to travel more or maybe they’ll run their air conditioner just a little bit higher when they’re in the car,” Kloza said.
KTAR News 92.3 FM’s Jim Cross contributed to this report.
