Gas prices surged this week across Arizona and the nation after OPEC announced planned production cuts, AAA says.
The statewide average gas price rose 8 cents in a week to $4.37 per gallon of regular gas on Friday, while Tucson's average jumped 20 cents to $4.20.
The national average was up 8 cents from a week before, at $3.58 per gallon, according to AAA.
The Sierra Vista-Douglas market had the state's lowest average gas price at $3.85 per gallon, while Scottsdale had the highest at $4.79 per gallon.
Gas prices have risen more than 60 cents in the past month statewide, and are up about 80 cents over the month in the Tucson area.
Arizona has seen a spike in gas prices in recent weeks due to a changeover to a cleaner burning, summer-blend gas required in California and the Phoenix area, amid limited pipeline capacity.
Crude-oil prices, which comprise more than 50% of gas costs, jumped over $80 per barrel this week after OPEC last weekend announced impending production cuts to prop up prices, AAA said.
Circle K, a major gas retailer in Tucson and across the state, said ongoing fuel-supply shortages at some of its local stations are the result of “various supply chain issues that are affecting retailers across Arizona.”
While the Federal Reserve has attempted to corral inflation by raising key lending rates, it has had little impact on consumers when they buy gas or get groceries. The Second Harvest Community Food Bank in St. Joseph, Missouri saw a slight decrease in the number of people in need as the pandemic came to an end. However, the need quickly rose again as inflation rates increased.
