Gas prices fall for fourth straight week - East Valley Tribune: East Valley Local News

Gas prices fall for fourth straight week

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Posted: Thursday, October 8, 2009 2:59 pm | Updated: 1:32 am, Sat Oct 8, 2011.

Across Arizona and the East Valley, pump prices are following the trend of falling temperatures as the per-gallon price of gasoline this week fell for the fourth straight week.

Statewide, the current fuel average is $2.447 per gallon, a drop of 4.2 cents from last week. In the East Valley, the current average is $2.409 per gallon, down 4.7 cents from last week.

The nationwide average remains nearly unchanged from last week with an average of $2.468 per gallon.

This week, the price of crude oil traded in the high $60s per barrel range and has remained in the $65-$75 price range for 10 consecutive weeks. The stability of market oil prices has meant retail gas prices have been comparatively calm over the past two and a half months as well.

Through most of the hurricane season, and amid geopolitical events and ongoing international economic upheaval, oil prices have consistently stayed within a $10 range for 10 weeks in a row, according to AAA Arizona.

A year ago, the statewide average was $3.350, while the East Valley average was $3.262.

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