ARIZONA NEWS

Gas prices in metro Phoenix reach record average of $4.75 per gallon

May 10, 2022, 2:00 PM
(Flickr Photo/Arizona Department of Transportation)...
(Flickr Photo/Arizona Department of Transportation)
(Flickr Photo/Arizona Department of Transportation)

PHOENIX – Gas prices in metro Phoenix hit a record average Tuesday and could climb higher, an Arizona motor club spokesman said.

The average cost for a gallon of gas in the Valley has hit $4.75. Diesel fuel also hit a new high of $5.47. Aldo Vazquez with AAA Arizona cites Russia’s war in Ukraine as a main disruptor in the global oil supply.

“It’s going to be hard for crude oil prices to fall. Unfortunately that means consumers are going to continue to face these higher prices at the pump,” he said to KTAR News 92.3 FM.

“That’s outweighing the demand concerns prompted by the impact of COVID-19 on China’s economy, which is one of the largest economies that consumes oil.”

The national average for a gallon of gasoline has jumped 20 cents to $4.32, a penny less than the record high set on March 11. Crude oil is bubbling up almost $100 per barrel, the agency said.

AAA said the average price of gas in Arizona is $4.67 for a gallon, closing in on the record of $4.69 set March 29. Statewide diesel has reached a record of $5.475.

Arizona has the eighth-most expensive gas in the country as of Monday, trailing California ($5.82), Hawaii ($5.28), Nevada ($5.11), Washington ($4.83), Oregon ($4.81), Alaska ($4.73) and Washington, D.C. ($4.69).

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

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Gas prices in metro Phoenix reach record average of $4.75 per gallon