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9/16/2012 6:00:00 AM
Pain at the pump could ease soon
A gas pump at Circle K pictured Friday.
A gas pump at Circle K pictured Friday.

Ahron Sherman
Miner Staff Reporter

What goes up must come down ... hopefully.

The average price for a gallon of gas in Arizona and throughout the nation reached a three-month high this past week.

According to AAA Arizona, the statewide average for a gallon of gas reached $3.72 - up 2.6 cents from the previous week - and soared to $3.86 nationwide, an increase of 4.6 cents.

"Many motorists were anticipating that September would bring an end to this six-week price surge," said Linda Gorman, director of communications and public affairs for AAA Arizona. "However, due to current market factors and volatility, Arizonans are going to have to wait a little bit longer for relief to arrive."

In the last month, Arizona saw its gas prices increase by about 35 cents while the nation as a whole saw its prices increase by 17 cents. This is a time of year, with the end of the hurricane season and the shift to the cheaper winter blend of fuel, when Americans can usually expect prices to fall.

Several factors are applying both downward and upward pressure to prices. The nation's sluggish economy is applying downward pressure while limited inventory and the Federal Reserve's plan to inject money into the economy is applying upward pressure.

A major factor is the price of crude, which on Friday was almost $100 a barrel. The commodity is entering its 6th week of trading at more than $90 a barrel, according to AAA. Senior Petroleum Analyst Gregg Laskoski said that the price of crude bounced between $80 and $90 a barrel. People can expect lower gas prices when crude trades within this range, he said. But when it gets above $90 and starts creeping to $100, that's when people start seeing gas prices climb. The price of crude is directly related to the price of a gallon of gas, he said.

Between Thursday and Friday a penlight at the end of the tunnel appeared when reported that the average price for a gallon of gas in Arizona dropped by a penny.

ICT - Dr. Mohtaseb
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Reader Comments

Posted: Friday, September 21, 2012
Article comment by: tj denton

i was talking to anson. and ive never placed criticism or praise on the presidents shoulders for gas prices. if anything i blame the people who are against ANWR drilling.

Posted: Thursday, September 20, 2012
Article comment by: nothing is fair politically

I for one dont worship President Obama. I do however think. If many feel the right to blame him for high gas prices which I feel are out of a presidents hands. Those same people OWE him just alittle gratitude and even thanks when the prices drop.

I think if we had a GOP pres there would be massive patting on the back when gas prices dropped.

Fairness would be far to much to expect from political lunatics.

Posted: Thursday, September 20, 2012
Article comment by: tj denton

hahaha you literally worship obama?? and they say us Christians are strange.

Posted: Wednesday, September 19, 2012
Article comment by: Oh My Gosh

Please..... all of you get off your PC and get a life!!!!!!!!!!!!!!!!!!!!!

Posted: Wednesday, September 19, 2012
Article comment by: True American

Praise God, Not Obama!

Posted: Wednesday, September 19, 2012
Article comment by: Concerned Citizen II

Wednesday, Sept 19, 2012
Oil prices continue to fall as Saudis offer extra oil to control prices.

Brent Crude Oil $108.63 -3.03%
WTI Crude Oil $92.89 -2.52%

Gas prices should follow shortly. The lag will depend on how much windfall profits the local refiners and distributors want to make.

Posted: Tuesday, September 18, 2012
Article comment by: Concerned Citizen II

Today's quotes: Oil prices fall sharply on Euro unrest

Brent Crude Oil $111.73 -1.81%
WTI Crude Oil $ 95.33 -1.34%

Mr. Sherman, when we first met you seemed like a staunch and loyal liberal, but you seem to have lost those badges of honor. Did they get to you or was your first presentation a mask? You don't even seem able to correct your own gross mistakes.

Posted: Sunday, September 16, 2012
Article comment by: S M

Personally I expect gas prices to go up right around holidays. Labor day usually means the last trip to the river, or ATV/motorcycle outings etc. I expect a rise. What I don't expect is a $0.30 rise in less than 5 days. It wouldn't be quite so bad if they dropped that fast too but they don't. I had high hopes that we might see under $3 when Terribles got to $3.19 but it didn't happen. Maybe this winter...

Posted: Sunday, September 16, 2012
Article comment by: Concerned Citizen II

@ Ahron Sherman

You mistakenly (or deliberately) misquote the price per barrel of crude oil. The price you quote is WTI Crude, which is sweet crude pumped here in the U.S. It's price is always lower than Brent Crude, which comes mostly out of the Middle East. WTI Crude (currently around $99 a bbl) is very limited in quantity and a lot of what we produce goes elsewhere. On the other hand Brent Crude, which hovers around $116 a barrel, is sour crude which is more costly to refine and amount to more than 95% of what we use in this country. Please get your facts correct instead of trying to politicize them.

Posted: Sunday, September 16, 2012
Article comment by: Anson's Nephew

Gas prices going down? Good news, right? Now altogether, Praise Obama!" Since many of the usual suspects have been saying the increase was his fault (although during the Reign of error of The Crimnal we were told "The President has nothing to do with gas prices!") it is now time to give Obama credit for the lowering of gas prices. PRAISE OBAMA!

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