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Gas prices decrease, could continue to drop


Wal-Mart.com USA, LLCgas-pump-moneyby Rosha Safarmehdi - Jul. 9, 2009 12:28 PM
The Arizona Republic

Arizona gas prices have taken a noticeable fall over the past week, dropping 4.5 cents statewide to $2.592 a gallon, according to the American Automobile Association Arizona.
Supplies of oil and gas have remained at healthy levels, giving the AAA Arizona reason to anticipate the drop in prices, said spokeswoman Linda Gorman.

The overall low oil prices led to falling gas prices, illustrating a nationwide drop of 5 cents from last week. Just between Wednesday night and Thursday morning, Arizona saw a drop of 1.3 cents, Gorman said.

 

For Thursday, the Phoenix metro area had an average of $2.60 a gallon. The city with the lowest average was Tucson with $2.43 a gallon, Gorman said.

Gorman predicted prices continue to drop, and added that the peak for summer might have already passed.

The only possible threat to this continuous drop is the active hurricane season, which could intensify in August and September and spike prices as a result, Gorman said.

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