Economist weighs in on gas prices in Arizona

TUCSON, Ariz. (KOLD News 13) – Gas prices are slowly decreasing across the country but, many in Arizona are wondering why the average is still $4.05 a gallon. In Pima County, people pay just under that at about $3.45 a gallon.

Associate Professor of Economics Ashley Langer said it could be for “a bunch of reasons” why gas prices aren’t declining as much in Arizona.

“Part of that is going to be the refining facilities that we have available to the rest of Arizona customers. And, the other is just changing demand in Arizona like driving and taking long road trips relative to the rest of the country,” she said.

She said it’s normal for gas prices to fall after summer as people wrap up their trips.

“We see that happening again this year. But, we should also keep in mind that there is also a lot going on in the global economy that’s also going to affect the prices.” Langer added.

She also said things like the war Ukraine have a big impact on gas prices in the United States and even how close we are to refinery mills and other places we get our fuel from.

There are quite a few things happening globally this summer and Langer said these normal trends may be a bit different this year because of it.

Source link

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *