PHOENIX — In the last week alone, gas prices in Phoenix have fallen by 22.5 cents per gallon, according to a new report from GasBuddy. Prices now average $4.26 per gallon but could drop below the $4 mark as early as today.
That's almost a whole dollar cheaper than last month, and the trends are set to continue as we enter the eighth week of falling prices.
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"The national average is poised to fall back under $4 per gallon as early as today as we see the decline in gas prices enter its eighth straight week. By the end of the week, one hundred thousand stations will be at $3.99 or less," said Patrick De Haan, head of petroleum analysis at GasBuddy. "Diesel continues to decline as well, and will likely soon fall under $5 per gallon."
In Phoenix, the cheapest station was priced at $3.55 per gallon on Sunday, but the most expensive was $5.79.
The more than $2 disparity may seem extreme, but it's mostly due to factors at the company rather than national trends.
Many station owners are able to set their own prices, and those can change by the delivery when market values are shifting as quickly as they have been over the last few months.
But overall, prices are trending down, and drivers are poised to see some much-needed relief.
To find the lowest gas prices in Arizona, click here.
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