Arizona gas prices dip by a nickel, now 22 cents above rising national average

Arizona’s average price for a gallon of gas fell by 5 cents since last week, now putting in 22 cents above the national average.

As inflation levels continue to cool, the average price for a gallon of gas across the U.S. saw a slight spike from last week, climbing up by 3 cents.Thursday’s reported nationwide average of $3.55 is about 3 cents more than it was a month ago but $1.08 less than this time last year, according to AAA.The catalyst for the recent bump in pump prices is rising oil costs, which have jumped from the upper $60s per barrel the week prior to now around the mid-$70s.“Gas demand has fallen nearly 10 percent since the holiday, as folks have returned to their day-to-day driving routines,” AAA spokesperson Andrew Gross said in a news release. “Typically, this would lower gas prices, but such a move is being countered for now by the increasing cost for oil, the main ingredient in gasoline.”New data released by the Energy Information Administration, as cited by AAA, saw gas demand sink significantly, going from 9.6 million barrels per day to 8.76 million. Total domestic stocks stayed stagnant, however, keeping at last week’s total of 219.5 million barrels of crude oil.Patrick De Haan, head of petroleum an …

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