U.S. gas prices starting to trend down as demand wanes
There might be signs of relief on your wallet as gasoline prices are starting to trend down both in the state and nationally.
Arizona’s prices are still considerably higher than the rest of the nation; the state is seeing an average of $4.57 per gallon, and the rest of the country seeing just over $4.
Aldo Vazquez with AAA says the trend downward is due to a few reasons.
“The cost of gasoline has continued to slide due to falling oil prices. And the global oil market has seen lower prices since the U.S. and its allies agreed to significant releases of oil reserves," Vazquez said.
Vazquez added that a COVID-19 resurgence in China and overall higher prices has led to a decrease in demand for gasoline.