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High gas prices, inflation hurting Arizona families

The price of gas in Arizona is about 30 cents more than the national average and coupled with inflation, is putting a strain on Arizona Families.
Published: May. 10, 2022 at 9:45 PM MST
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PHOENIX (3TV/CBS 5) — The high price of gas is one of the biggest concerns for consumers. On Tuesday, a new record was set with the national average up to $4.37 a gallon. That’s a 17-cent spike in the past week alone. Here in Arizona, gas is even more expensive, with the average for a gallon of gas 30 cents more than the national average.

Driving to work, a trip to the store and making deliveries are all costing more because of the price of gas. According to AAA, the cost of a gallon of unleaded is now $4.75 in the Valley. A year ago, it was $3.07. And that’s making things difficult for everyday drivers trying to make ends meet. Rae Heimer of Phoenix has already canceled vacation plans because of what it costs to fill up and she’s not alone. “It’s keeping me from my trip to Oregon. I want to go up and see family and friends but you can’t drive from here. It just gets too expensive,” Heimer said.

Kristin Bentz is a financial analyst keeping a close on inflation and the impact it’s having on individuals and businesses. She says consumers are currently caught in the perfect storm with the war in Ukraine, supply chain problems and worker shortages driving up the price of gas. And when gas prices skyrocket, like they are now, it has a ripple effect on our entire economy. “Fuel inflation always mimics food inflation because that costs everybody and that affects everyone. That’s trucking, that’s shipping, that’s Uber, that’sUber Eats, DoorDash. So everything costs more for not only consumers but also companies trying to get that product to you,” Bentz said.