State's gas prices up for 6th week - East Valley Tribune: Business

State's gas prices up for 6th week

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Posted: Friday, January 14, 2011 12:06 pm

Gas prices rose for the sixth straight week, according to AAA Arizona. Statewide, Thursday’s average fuel price was $2.948, an increase of more than two cents from the previous week. Nationwide, prices increased by more than a penny to $3.095 per gallon. The weekly gas price report comes out each Thursday.

Persistently high crude oil prices have continued to drive retail prices higher, while snow storms in the East and the temporary closure of the Trans-Alaska Pipeline helped take prices above the $90 mark.

“While Arizona is one of about a dozen states below the $3 mark, it isn’t likely that the state average will stay below that threshold as a result of crude oil prices breaching $90 per barrel,” said Linda Gorman, director of communication and public affairs for AAA Arizona. “In the mid- to long-term, growing global demand will likely push the commodity higher, but the current dynamic market may create a tug-of-war along that climb.”

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