Gas prices continue to tick up to the $3 per gallon mark in the East Valley.
For the seventh week in a row prices increased, according to AAA Arizona.
East Valley drivers on Thursday were paying an average of $2.85 for regular unleaded, an increase of nearly a penny per gallon from the week before.
Statewide, motorists are paying $2.87 a gasoline, an increase of 2 cents from last week.
Oil prices fell back this week to the mid-$80 per barrel range after briefly flirting with $87 per barrel, AAA said. The primary reason behind the spike was optimism stemming from recent March employment data.
“As current crude costs push retail fuel prices closer to $3, it’s important to note that conditions in today’s market are vastly different than those that were responsible for record high prices in 2008,” said AAA Arizona Public Affairs Director Linda Gorman. “While record highs in 2008 were largely attributed to a spike in demand and stretched supplies, the current price momentum can be attributed to investor optimism, as supplies remain plentiful and demand flat.”