As spring approaches, refineries are beginning their transition to summer blend fuel, which often results in higher prices this time of year. This week, gas prices rose by a few cents, bringing the national average to $3.16 per gallon. Arizona drivers will find an average price of $3.40, an increase of 14 cents from last week. Routine seasonal maintenance and an offline refinery in Northern California are putting additional strain on supply. These factors are pushing gas prices up, which means consumers may see higher prices at the pump as warmer months approach.
The national average per kilowatt hour of electricity at a public EV charging station remains the same at 34 cents.
Fuel Prices Around the State:
Phoenix: $3.63
Tucson: $3.08
Flagstaff: $3.21
Yuma: $3.09
Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI dropped $1.95 to settle at $71.37 a barrel. The EIA reports that crude oil inventories increased by 4.1 million barrels from the previous week. At 427.9 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.
Quick Gas and Electricity Stats
Gas
The nation’s top 10 most expensive gasoline markets are California ($4.79), Hawaii ($4.55), Washington ($4.10), Nevada ($3.85), Oregon ($3.74), Arizona ($3.40), Alaska ($3.39), Pennsylvania ($3.36), Illinois ($3.27), and Washington, DC ($3.27).
The nation’s top 10 least expensive gasoline markets are Mississippi ($2.68), Texas ($2.74), Oklahoma ($2.75), Louisiana ($2.76), Kentucky ($2.79), Alabama ($2.82), Tennessee ($2.82), Kansas ($2.84), Arkansas ($2.84), and Missouri ($2.85).
