PHOENIX — Gas prices have been steadily declining in recent weeks and experts said they expect the cost to fill up to continue to drop in the near future.
Phoenix’s average is below the $4 mark. Nationally, the average price for a gallon of gas is about $3.60. Arizona is slightly higher than that at about $3.87 a gallon. Prices are down $0.95 cents a gallon in Phoenix from one year ago. And the statewide average is down about $0.80 per gallon.
VERSIÓN EN ESPAÑOL: ¿Bajarán los precios de la gasolina en Arizona este verano? Los expertos dicen que sí
GasBuddy's Patrick De Haan said he predicts gas prices will drop throughout the summer.
"Typically prices don’t peak in the summer, they peak in the spring," De Haan said. "That’s what happened last year as well. Why does that happen? Well, refineries do maintenance before the summer. That also means there’s a supply squeeze in the spring, not the summer.”
In 2023, refinery outages caused gas prices to skyrocket to almost $5 per gallon. De Haan said this year, things have gone smoother with the switch to summer gasoline and refinery maintenance. In a normal year like we’re seeing now, prices decline because supplies go back up as refineries crank up output.
Normally gas prices decrease between Memorial Day and July 4. This summer, hurricane season and any potential refinery issues could cause prices to do the opposite and rise again.
De Haan added prices could go down another 10 to 30 cents per gallon this summer, potentially even dropping below $3 per gallon before the end of the year.
>> Download the 12News app for the latest local breaking news straight to your phone.
Watch 12News+ for free
You can now watch 12News content anytime, anywhere thanks to the 12News+ app!
The free 12News+ app from 12News lets users stream live events — including daily newscasts like "Today in AZ" and "12 News" and our daily lifestyle program, "Arizona Midday"—on Roku and Amazon Fire TV.
12News+ showcases live video throughout the day for breaking news, local news, weather and even an occasional moment of Zen showcasing breathtaking sights from across Arizona.
Users can also watch on-demand videos of top stories, local politics, I-Team investigations, Arizona-specific features and vintage videos from the 12News archives.
Roku: Add the channel from the Roku store or by searching for "12 News KPNX."
Amazon Fire TV: Search for "12 News KPNX" to find the free 12News+ app to add to your account, or have the 12News+ app delivered directly to your Amazon Fire TV through Amazon.com or the Amazon app.
12News on YouTube
Catch up on the latest news and stories on the 12News YouTube channel. Subscribe today.