Economist weighs in on gas prices in Arizona

TUCSON, Ariz. (KOLD Information 13) – Fuel costs are slowly lowering throughout the nation however, many in Arizona are questioning why the typical continues to be $4.05 a gallon. In Pima County, individuals pay slightly below that at about $3.45 a gallon.

Affiliate Professor of Economics Ashley Langer mentioned it might be for “a bunch of causes” why fuel costs aren’t declining as a lot in Arizona.

“A part of that’s going to be the refining services that we have now out there to the remainder of Arizona prospects. And, the opposite is simply altering demand in Arizona like driving and taking lengthy street journeys relative to the remainder of the nation,” she mentioned.

She mentioned it’s regular for fuel costs to fall after summer time as individuals wrap up their journeys.

“We see that taking place once more this yr. However, we also needs to remember the fact that there’s additionally rather a lot occurring within the international economic system that’s additionally going to have an effect on the costs.” Langer added.

She additionally mentioned issues just like the warfare Ukraine have a huge impact on fuel costs in america and even how shut we’re to refinery mills and different locations we get our gas from.

There are fairly a number of issues taking place globally this summer time and Langer mentioned these regular traits could also be a bit completely different this yr due to it.

Copyright 2022 KOLD Information 13. All rights reserved.