Here’s why gas prices in Arizona have dropped under $4 a gallon
Jun 27, 2023, 11:00 AM
(AP Photo/Gene J. Puskar)
PHOENIX — The average price for a gallon of gas in Arizona has dropped under $4, a welcome development that one industry expert says has staying power.
Julian Paredes, AAA spokesman, said the completion of maintenance at refineries in New Mexico and Texas that provide gas in the state has brought supply back to normal levels.
“That’s supply from those two refineries that are coming back again and that’s really helping bring prices back down again,” Paredes said. “Really, prices are just coming back to where they should be.”
Arizona, with a $3.96 statewide average, is still seeing higher prices most of the rest of the country, but drivers are finally getting relief after paying some of the most expensive prices nationwide over the past few months.
The statewide average is down 15 cents from a week ago and 60 cents in the past month.
Paredes said the price drop has especially been felt in metro Phoenix, although the $4.10 average still eclipses what’s happening across the country.
Nationwide, the average gallon cost drivers $3.56 as of Tuesday.
“Gas prices were nearing $5 for a little bit there,” Paredes said. “But we’ve seen a fairly dramatic decrease in gas prices in the last month or so and specifically in Phoenix.”
The looming Fourth of July holiday weekend shouldn’t have a large effect on prices, according to Paredes.
He thinks the average could continue to dip because of how drivers changed their practices when prices were swelling.
“It might actually be a little bit lower because when prices were nearing $5, people may have changed their driving habits,” Paredes said.
“So demand in Arizona might actually be lower than it should be or normally is just because prices have been so high for the last few months or so.”
KTAR News 92.3 FM’s Taylor Kinnerup contributed to this report.