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Gas prices may fall, but probably not for long. This is why

Gasoline prices in Arizona are falling, but experts warn the trend may not last long.

Over the past week, the average price of gas in Arizona has dropped by four cents. The current average price of gas in Arizona is $3.57, which is seven cents higher than the national average of $3.50.

As people across the country prepare for holiday travel in the coming week, gasoline prices are expected to remain around the current average.

Julian Paredes, AAA spokesman for Arizona, warns that local prices are likely to rise in the weeks after the Fourth of July.

“There is more reason to believe that gas prices will slowly rise,” Paredes said. “It’s not to say gas will be $4 a gallon anytime soon, but you can expect a few cents increase here and there.”

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AAA data reported that in June 2023, the average gas price in Arizona was nearly $4 per gallon; today, the average is significantly lower at $3.57 per gallon.

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Paredes indicated that the country’s gas prices reflect the price of oil. Recently, the oil price has risen to $80 per barrel.

This article originally appeared in the Arizona Republic: Traveling for the 4th of July? Expect a hike in gas prices

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