Thursday’s statewide gas price of $3.100 per gallon marked the 11th weekly increase in a row. Gas was up 6.5 cents over the previous week, setting a record for the highest statewide fuel price AAA has on record for the month of February. Nationwide, prices increased slightly to $3.119 per gallon.
“Despite this week’s downward shift in crude price, consumers have not yet felt any relief at the pump,” said Linda Gorman, director of communications and public affairs for AAA Arizona. “This is in large part due to an overreaction to the events that transpired last week, especially considering both supply and productions levels are at multi-year high.”
Gorman was referring to ongoing civil unrest in Egypt.
“Should current market factors persist, Arizona’s fuel prices should level out in the short-term, barring unforeseen circumstances,” she said.