Slowly but surely, gas prices keep going up
KINGMAN – A few cents every couple of days. While gas prices in Arizona continue to climb, experts promise a stabilization after Memorial Day. But with pump prices in the West Coast being some of the highest in the nation, it is hard not to worry.
“Basically everything that could have gone wrong, went wrong this year,” AAA Public Information Officer for Arizona Michelle Donati-Grayman told Fox 10.”The seasonal fluctuation, refinery issues on both east and west lines, strong demand, and some delivery issues.”
According to AAA statistics, Arizona is among the top 10 states with the largest gas price increases this week, which makes it the seventh most expensive state in the nation with an average price of $3.14 per gallon.
Prices have risen 2.9 cents per gallon in the past week, and Arizona’s average was at $3.16 Wednesday, according to GasBuddy.com’s daily survey of 2,269 stations.
Gas prices in Arizona are 29 cents per gallon higher than a month ago, yet stand 23.0 cents per gallon higher than a year ago. Pump prices crossed $4 per gallon in California. But Donati-Grayman said prices should stabilize soon, within weeks.
According to GasBuddy price reports, the cheapest station in Kingman was priced at $3.12 while the most expensive was $3.75.
“Oil prices have plummeted, and with President Trump’s shocking warning Sunday about raising tariffs on China, oil prices may see another weekly loss along with wholesale gasoline prices on the worry that perhaps a trade deal is not as close as anticipated, risking the recent growth in the U.S. economy and potentially leading to lower oil demand,” said Patrick DeHaan, head of petroleum analysis at GasBuddy.
“For now, I believe we’re close to seeing gas prices peak in the next few weeks or so in most of the U.S., and barring any future unexpected outages, I think most of the country has seen the risk of big price increases melt away. We’re in the last inning or so of the seasonally rally – once this game is over – we’ll likely begin to see prices recede in the month of June, tracking very closely to what we experienced last summer.”
The national average price of gasoline has risen 1.3 cents per gallon in the last week, averaging $2.89 per gallon. The national average is up 14.3 cents per gallon from a month ago, yet stands 9.1 cents per gallon higher than a year ago.