PHOENIX — Arizonans will be paying the cheapest pump prices at Thanksgiving since 2008 and it only gets better from there.
The statewide average is $2.14 per gallon, according to Arizona AAA. Tom Kloza with Oil Price Information Service said that average will be below $2 by Christmas.
“I think if people shop around they could see $1.70 or so around Christmas,” Kloza said.
“The fact of the matter is that there’s extra production coming on from California on conventional gasoline. The Rocky Mountain refineries are coming back from various stages of work. I think the market will bottom out between now and Christmas.”
For example, Kloza said, “If someone uses about 90 gallons of gas between now and New Year’s Day, they will save $75 or $90 versus last year.”
But all good things come to an end. Kloza said that will be the case with cheap pump prices.
“I think gas prices will scream higher at the end of the first quarter of 2016 because we’ll have refinery maintenance again and even though we have a glut of crude oil we don’t have a glut of gasoline.
“It’s just a question of where the launching pad is. Is it $1.75, is it $2? We’ll spring up from there.”