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Fuel Prices Drop as Fall Begins

Phoenix, Ariz., Sept. 24, 2009. The temperature isn’t the only thing falling in Arizona. For the second straight week, motorists across the state are filling up for less. The current statewide fuel average is $2.562 per gallon, a drop of 4.2 cents from last week. Today’s nationwide average is $2.534 per gallon, a drop of 1.6 cents from last week.

This week, the price of crude oil fell to the mid $60 per barrel range as a result of increased crude supplies and the Federal Reserve leaving interest rates unchanged. As has been the story for all of 2009, the commodity’s price has been driven mostly by the perceived direction of the global economy. While many economic indicators are heading in a mildly positive direction, there are conflicting opinions on whether or not the economy will grow before the second or third quarter of 2010.

“One upcoming news item that could shed some light on the future of oil and fuel prices is this week’s G-20 meeting in Pittsburgh,” said AAA Arizona Public Affairs Director Linda Gorman. “The meeting’s tone and any decisions reached will give us an idea on how the global economic powers feel about the prospects for economic recovery.”

“Given current market factors, fuel prices are likely to continue their current downward trend, barring unforeseen events and circumstances,” added Gorman.

In Arizona, Tucson drivers continue to pay the least for fuel in the state with an average of $2.369 per gallon, while Flagstaff motorists continue to pay the most to fill their tanks with an average fuel price of $2.742 per gallon. Nationwide, Missouri motorists continue to pay the nation’s lowest fuel price with an average of $2.238 per gallon, while California motorists continue to pay the most for fuel in the lower 48 states with an average of $3.137 per gallon.

Motorists can visit www.AAAAZ.com/news/fuelnews.htm for fuel price information and gas saving tips or go to www.AAA.com/fuelfinder to locate the station with the cheapest gas in their neighborhood. They can also visit AAA’s Fuel Cost Calculator at www.fuelcostcalculator.com, which can help drivers plan out their fuel costs so they can budget their travel expenses in advance.

City

Today’s Price

Change from last week

Premium

Diesel

Last Year’s Price

East Valley
(Mesa, Gilbert, Chandler, Tempe, Ahwatukee, Apache Junction, Queen Creek)

$2.527

-5.1

$2.788

$2.586

$3.423

Flagstaff

$2.742

-4.8

$3.024

$2.764

$3.740

Glendale

$2.553

-4.9

$2.816

$2.632

$3.447

Peoria

$2.532

-4.9

$2.792

$2.604

$3.455

Phoenix (city)

$2.546

-5.7

$2.808

$2.619

$3.447

Pima County

$2.391

-3.3

$2.638

$2.637

$3.418

Prescott
(Tri-Cities)

$2.570

+0.3

$2.834

$2.625

$3.578

Scottsdale
(Scottsdale, Fountain Hills)

$2.626

-6.0

$2.896

$2.708

$3.570

Tucson

$2.369

-3.1

$2.613

$2.621

$3.408

Yuma

$2.623

-0.8

$2.893

$2.560

$3.458

Statewide


$2.562

-4.2

$2.826

$2.643

$3.505

National

$2.534

-1.6

$2.787

$2.656

$3.715

E-85

$2.043

+0.6

N/A

N/A

$2.966

*E85 MPG/BTU adjusted price

$2.688

+0.7

N/A

N/A

$3.904


*The BTU-adjusted price of E-85 is the nationwide average price of E-85 adjusted to reflect the lower energy content as expressed in British Thermal Units - and hence miles per gallon - available in a gallon of E-85 as compared to the same volume of conventional gasoline. The BTU-adjusted price calculated by OPIS and AAA is not an actual retail average price paid by consumers. It is calculated and displayed as part of AAA's Fuel Gauge Report because according to the Energy Information Administration E-85 delivers approximately 25 percent fewer BTUs by volume than conventional gasoline. Because "flexible fuel" vehicles can operate on conventional fuel and E-85, the BTU-adjusted price of E-85 is essential to understanding the cost implications of each fuel choice for consumers.

AAA Arizona’s Weekly Fuel Gauge includes data from gasoline stations in every Arizona community. However, only major metropolitan areas are shown in the table above.  Local prices in some communities might be higher or lower than the averages shown here.

NOTE: AAA Fuel Gauge data may be used on a daily basis by news media Web sites, but should include attribution to AAA.

 

 

 
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