Gas prices in Phoenix beginning to plateau

*NOTE: This is a stock photo.
*NOTE: This is a stock photo.(MGN)
Published: Mar. 21, 2022 at 10:31 AM MST
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PHOENIX (3TV/CBS 5) - Gas prices are starting to plateau, according to GasBuddy. Average gasoline prices in Phoenix have fallen 2 cents per gallon in the last week, averaging around $4.62 per gallon. This is a very minor improvement considering that prices in Phoenix are 83.9 cents per gallon higher than a month ago and are now $1.49 per gallon higher than prices in 2021.

According to GasBuddy price reports, the cheapest station in Phoenix was priced at $4.29 per gallon yesterday, and the most expensive was $5.39. The lowest price in Arizona yesterday -- $3.99 per gallon -- was in San Simon in the southeastern part of the state, while the highest was in Tusayan at $5.89. Tusayan is near the main entrance to Grand Canyon National Park.

Overall in the U.S., the national average price of gasoline has fallen 9 cents in the last week, averaging around $4.23 to $4.25 per gallon today for regular-grade gasoline.

Historic gasoline prices in Phoenix and the national average going back 10 years

Neighboring areas and their current gas prices

  • Arizona: $4.60 (unchanged from last week)
  • Las Vegas: $5.13 (18.9 cents per gallon from last week’s $4.94)
  • Tucson: $4.47/g (down 1.8 cents per gallon from last week’s $4.48)

“While the decline is still subject to changes in global supply and demand, Covid and Russia’s war on Ukraine, we are poised to see additional downdrafts at the pump this week in most areas,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “For now, gasoline demand has shown absolutely no signs of buckling under the pressure of higher prices, even as California nears an average of $6 per gallon, with spring break travel well underway. If the situation does worsen, with more oil being kept away from global markets, it’s not impossible that gas prices would still have to climb a considerable amount for Americans to start curbing their insatiable demand for gasoline.”