Gas prices in Phoenix fall slightly to $3.55 per gallon - wave3.com-Louisville News, Weather & Sports

UPDATE

Gas prices in Phoenix fall slightly to $3.55 per gallon

Posted: Updated:
PHOENIX (CBS5) -

Gasoline prices around the Valley are slightly lower at the pumps this week and are staying below the national average.

The average price for unleaded regular gasoline is $3.55 a gallon in Phoenix, according to a survey done by gasoline price website, GasBuddy.com of 1,094 gas outlets in Phoenix. It's a 6.9-cent increase from this time last year.

The national average fell 3.7 cents per gallon in the last week to $3.61, according to GasBuddy.com.

"Over the next week, the national average will fall back under $3.50/gal- something we haven't seen since April, and will also drop under last year's average in the next few days. There is also the possibility for further declines if we don't see a hurricane or geopolitical tensions ruin things," GasBuddy.com Senior Petroleum Analyst Patrick DeHaan said. "I'd caution motorists as we expect these large decreases to only buy the amount of gasoline they immediately need as prices drop, and to shop around as price gaps between stations widen because of the quick decrease in wholesale gas price. Some stations will be buying the cheaper gasoline and passing on savings faster, leading to a wide array of gas prices."

Copyright 2014 CBS 5 (KPHO Broadcasting Corporation). All rights reserved.