Arizona pump prices fell nearly two cents in the last week to $3.445 per gallon. Nationwide, prices fell nearly seven cents to $3.556 per gallon.
This week, the price of crude oil fell to the low $80 per barrel range following reports of a dismal economic outlook and mounting global financial concerns.
“After a month of price increases, Arizonans have started to experience mild relief at the pump,” said Linda Gorman, communications and public affairs director for AAA Arizona. “With healthy margins and supplies, coupled with the price of crude oil retreating to the low $80 range, this is a trend that consumers may continue to experience, barring unforeseen circumstances.”
Tucson and Flagstaff hold the low and high state fuel averages at $3.311 and $3.663 per gallon, respectively. Missouri and California hold the low and high price extremes for the lower 48 states at $3.290 and $3.917 per gallon, respectively.