East Valley gas prices drop for 15th consecutive week - East Valley Tribune: Business

East Valley gas prices drop for 15th consecutive week

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Posted: Thursday, July 19, 2012 3:48 pm

While enjoying lower temperatures this week, Arizona drivers also enjoyed lower prices at the pump for the 15th week in a row. In the East Valley, gas prices dropped 2.6 cents to $3.239, according to AAA Arizona.

The statewide average fell 3.2 cents from last week to $3.318 per gallon. Meanwhile, the national average continued its reversed course and increased 5.3 cents to $3.437 per gallon.

Supply concerns due to heightened tensions in the Middle East and better than expected global economic news have pressured oil prices - and pump prices - higher over the last several weeks. This week the commodity breached $92 per barrel for the first time since May.

"Arizona has bucked the national trend again this week," said Linda Gorman, director of communications and public affairs for AAA Arizona. "Though it's hard to say how long this will last, current retail margins and healthy inventories indicate we may continue to enjoy lower prices in the short term, barring unforeseen circucumstances."

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