Fuel prices stabilize after spike - Ahwatukee Foothills News: Valley And State

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Fuel prices stabilize after spike

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Posted: Friday, December 17, 2010 1:36 pm

Fuel prices began to display early signs of stabilization last week, according to AAA. Statewide, Thursday's fuel price was $2.877, an increase of 1.1 cents from the previous week. Nationwide, prices increased by just under a penny to $2.984 per gallon.

After climbing to a 26-month high the first week of December, the price of crude oil fell back to the high $80 range.

"While pump prices remain nearly a dime higher compared to last month and 30 cents higher compared to last year, 1.8 million Arizonans - or more than nine in 10 holiday travelers - will embark on a road trip before the year is through," said Linda Gorman, director of communications and public affairs for AAA Arizona. "Given the volatility of the market and the volume of year-end holiday auto travelers, pump prices are likely to hold steady, and possibly inch a bit higher before 2010 comes to a close."

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