Pump prices expected to hit record high - East Valley Tribune: Business

Pump prices expected to hit record high

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Posted: Thursday, February 9, 2012 2:52 pm | Updated: 7:27 am, Fri Feb 10, 2012.

The price of gas is rising for the seventh week in a row. East Valley drivers are paying a penny and a half more than last week, as prices reached $3.444 a gallon.

Nationwide, the average fuel price climbed 3.3 cents to $3.488 per gallon. Statewide, the price of fuel has increased 2.5 cents to $3.433. Arizona's fuel average has increased 22.6 cents - or 7 percent - since the start of the year.

Arizona drivers experienced the highest fuel prices in January on record, a trend that has spilled over into February. The 2012 Arizona fuel average for January was $3.311, an increase of 12 percent over the January 2011 average of $2.960.

"Current market factors aren't working in favor of consumers who have endured unseasonably high pump prices for the past two months," said Linda Gorman, director of communications and public affairs for AAA Arizona. "Looking ahead, the cost of fuel is almost certain to make a record run later this year."

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