GasBuddy analyst says Arizona likely won’t see gas under $3 per gallon until war is over
Mar 25, 2022, 9:00 PM
(Photo by GUILLERMO ARIAS/AFP via Getty Images)
PHOENIX — As war in Ukraine has now entered into the second month, economic effects continue to be felt across the globe and in Arizona.
United States and Arizona drivers facing pressure over increased or leveled-off gas prices likely won’t see them fall back to below $3 per gallon until the conflict is over in Ukraine, GasBuddy analyst Patrick De Haan told KTAR News 92.3 FM’s The Mike Broomhead Show on Friday morning.
“Highlighting the volatility, I think we’ll get a little bit of a downward movement, but things can change very quickly and at any time with the Russia situation continuing to evolve,” De Haan said.
The current average gas price per gallon in Phoenix is $4.67, but the analyst said some stations had prices as low as $4.37 per gallon.
With natural gas across the country being considerably lower than in Europe, De Haan said President Biden’s recent announcement of expanding natural gas shipments into the European Union is likely to help reduce the EU’s dependency on Russian gas.
“It’s better for everyone if Russia can be basically sanctioned and put in a corner, and this is kind of aiming to do that,” De Haan said.
He added that because diesel is the fuel of commerce, and is used by semitrucks, trains and ships, prices aren’t likely to drop for quite some time.
“Given the fact that demand has been very high because it is the fuel of the economy, diesel prices are likely to remain at elevated levels for quite some time,” De Haan said.