Higher gas prices could be on the way - East Valley Tribune: Business

Higher gas prices could be on the way

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Posted: Wednesday, November 16, 2011 2:12 pm | Updated: 6:20 pm, Thu Nov 17, 2011.

Pump prices in Arizona experienced modest declines this week, but a surge in the price of crude means Thanksgiving travelers could end up paying more for gas.

Arizona drivers are currently paying $3.312 per gallon, 3.1 cents less than last week, according to a news release from AAA Arizona. Nationwide, the average fuel price dropped 2.8 cents this week to $3.402 per gallon.

Meanwhile, the price of crude hit a five-month high this week, surpassing the $100-per-barrel mark. In October, it was trading in the mid $90-per-barrel range. AAA attributed the surge to a weaker dollar, tightened production and the ongoing euro zone debt crisis.

AAA Arizona spokeswoman Linda Gorman said that if crude gains continue, pump price stability will end.

"This could come as unwelcome news for motorists, as many begin to take to the roads to celebrate Turkey Day with friends and family," Gorman said.

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