Arizona, AZ, May 1- Average retail gasoline prices in Arizona have fallen 0.7 cents per gallon in the past week, averaging $2.28/g yesterday, according to GasBuddy's daily survey of 2,269 gas outlets in Arizona. This compares with the national average that has fallen 3.7 cents per gallon in the last week to $2.38/g, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Arizona during the past week, prices yesterday were 13.9 cents per gallon higher than the same day one year ago and are 4.2 cents per gallon higher than a month ago. The national average has increased 5.1 cents per gallon during the last month and stands 15.9 cents per gallon higher than this day one year ago.
According to GasBuddy historical data, gasoline prices on May 1 in Arizona have ranged widely over the last five years:
$2.14/g in 2016, $2.61/g in 2015, $3.49/g in 2014, $3.43/g in 2013 and $3.82/g in 2012.
Areas near Arizona and their current gas price climate:
Las Vegas- $2.67/g, down 1.2 cents per gallon from last week's $2.69/g.
Phoenix- $2.25/g, down 0.9 cents per gallon from last week's $2.26/g.
Tucson- $2.18/g, down 1.2 cents per gallon from last week's $2.20/g.
"An oversupply of gasoline as refiners ramp up production will continue to exert downward pressure on prices at the pumps. The national average gasoline price of $2.35 per gallon is a mere 14 cents higher than a year ago, down from a gap of nearly 40 cents just months ago," said Dan McTeague, GasBuddy senior petroleum analyst. "The expected bump in fuel demand doesn't seem to be coming, leaving refineries with a lot of inventory that has yet to find a market. Gas prices appear poised to drop yet again this week."
For LIVE fuel price averages, visit http://FuelInsights.GasBuddy.com.
GasBuddy is the technology company changing the way more than 60 million consumers find, purchase, and save money on gasoline. Founded in 2000, the original GasBuddy website was a pioneer in crowd-sourced information, leveraging technology, big data, and a passionate community that now connects more than 60 million users with real-time, accurate fuel pricing information as well as reliable reviews of gas station amenities and services. The app and website have the most accurate and real-time fuel prices at over 140,000 unique stations in the United States, Canada, and Australia and is the most comprehensive money-saving companion while on the road. GasBuddy is available on all mobile platforms. For more information, visit www.gasbuddy.com.