ARIZONA NEWS

Arizona gas prices on the rise for now, but that won’t last, expert says

Aug 10, 2023, 4:25 AM | Updated: 6:56 am

(Allen J. Schaben/Getty Images)...

(Allen J. Schaben/Getty Images)

(Allen J. Schaben/Getty Images)

PHOENIX — Prices at the pump in Arizona are quickly increasing, but that won’t last, according to an industry expert.

Tom Kloza, global head of energy analysis at price reporting agency Oil Price Information Service, told KTAR News 92.3 FM on Wednesday there is a good reason for the rise.

“I think we’ve seen prices go up this month for crude oil and we’ve seen some strength in some of the gasoline prices in the middle of the country,” Kloza said. “I’m afraid you’re victim of that at the moment.”

Arizona’s average of $3.97 a gallon as of Wednesday is six cents more than a day earlier and 12 cents higher than a week ago, according to AAA. A month prior, Grand Canyon State drivers were paying an average of $3.79 per gallon.

Nationally, the average sat at $3.82 on Wednesday.

Kloza added that refinery issues in places seeing extreme temperatures — notably in west Texas — aren’t helping.

The upcoming hurricane season will also cast doubt on the possibility of lower prices, Kloza said.

Even so, increases won’t get close to earlier this year when prices eclipsed $5 a gallon and were the highest in the nation.

“I think you’re looking at numbers around $4,” Kloza said. “Maybe some of the off-priced folks are below that, but you’re not looking at anything quite as strong as you saw I think in May or early June.”

Kloza expects the final three months of the year to provide relief for Arizona drivers.

“I think the fourth quarter you’re going see prices drop in time for Christmas shopping, but between now and then it’s still very, very tough sledding,” Kloza said.

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

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Arizona gas prices on the rise for now, but that won’t last, expert says