GasBuddy releases Arizona’s updated gas prices for the New Year

YUMA, Ariz. (KYMA, KECY) - Since last week, the average gas prices for the state of Arizona fell 2.9 cents per gallon.

According to a GasBuddy report, this ranges to $3.30/g as of Monday, January 2.

Additionally, prices in Arizona are 62.0 cents per gallon lower than a month ago and 31.2 cents per gallon lower than a year ago.

The national price of diesel also fell to 1.4 cents, standing at $4.67 per gallon.

Other details

Overall, the cheapest station and lowest price in the state was $2.59/g as of Sunday, January 1.

On the other hand, the most expensive and highest price was $4.95/g.

This is a difference of $2.36/g.

Gas prices dating back ten years

In any case, here are the gas prices and their national average dating back ten years:

• January 2, 2022: $3.61/g (U.S. Average: $3.26/g)
• January 2, 2021: $2.25/g (U.S. Average: $2.25/g)
• January 2, 2020: $2.75/g (U.S. Average: $2.59/g)
• January 2, 2019: $2.69/g (U.S. Average: $2.25/g)
• January 2, 2018: $2.41/g (U.S. Average: $2.49/g)
• January 2, 2017: $2.10/g (U.S. Average: $2.34/g)
• January 2, 2016: $1.97/g (U.S. Average: $1.99/g)
• January 2, 2015: $2.12/g (U.S. Average: $2.21/g)
• January 2, 2014: $3.17/g (U.S. Average: $3.32/g)
• January 2, 2013: $3.02/g (U.S. Average: $3.28/g)

Neighboring areas

In contrast, here are the neighboring areas and their current gas prices:

• Las Vegas- $3.81/g, down 0.5 cents per gallon from last week's $3.81/g.
• Phoenix- $3.31/g, down 1.7 cents per gallon from last week's $3.33/g.
• Tucson- $3.00/g, up 2.1 cents per gallon from last week's $2.98/g.

GasBuddy representative's response

"For the first time in two months, the nation's average price of gasoline rose sharply last week, as extremely cold weather led to many refinery issues, shutting down over a million barrels of refining capacity, pushing wholesale prices up," said Patrick De Haan, head of petroleum analysis at GasBuddy.

In addition, "China's reopening plans gave markets inspiration that global oil demand will start to recover, as China's nearly three year Covid-zero policies appear to be coming to an end. While the jump at the pump will likely be temporary as most refiners get back online after cold-weather related issues, some regions like the Rockies may see more price increases than others as cold-weather shutdowns hit the region fairly hard, with one refinery likely remaining down through the first quarter of 2023. Most areas have seen the bulk of the rise already hit, but should oil continue to rally, more increases could be on the way."