PHOENIX – The new year begins with Arizona gas prices dropping 4 cents since last week to $2.99 per gallon of regular gasoline. But that’s down 7 cents from where prices were this time last year.
Across the country, 2026 has the lowest national average in years at $2.81. The last time the national average for a gallon of regular gas was this low was back in March of 2021.
“Crude oil prices remain relatively unchanged from the end of 2025 and unaffected amid questions about Venezuela’s impact on the oil market,” said Julian Paredes, spokesperson for AAA Mountain West Group. “Currently, the global oil supply is strong, as OPEC+, the coalition of oil-exporting countries, says it’s not planning any production hikes in the first quarter of 2026 due to lower demand.”
Fuel Prices Around the State:
Phoenix: $3.04
Tucson: $2.83
Flagstaff: $3.17
Yuma: $2.97
According to new data from the Energy Information Administration (EIA), gasoline demand decreased last week from 8.56 million b/d to 8.17 million. Total domestic gasoline supply increased from 234.3 million barrels to 242 million. Gasoline production decreased last week, averaging 9.0 million barrels per day.
Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI fell $1.14 to settle at $55.99 a barrel. The EIA reports crude oil inventories decreased by 3.8 million barrels from the previous week. At 419.1 million barrels, U.S. crude oil inventories are about 3% below the five-year average for this time of year.
EV Charging
The national average per kilowatt hour of electricity at a public EV charging station remains at 38 cents. In Arizona, it’s 41 cents.
State Stats
Gas
The nation’s top 10 most expensive gasoline markets are Hawaii ($4.42), California ($4.23), Washington ($3.81), Alaska ($3.53), Nevada ($3.37), Oregon ($3.37), Washington, DC ($3.09), Pennsylvania ($3.04), Vermont ($3.02), and New York ($3.01).
The nation’s top 10 least expensive gasoline markets are Oklahoma ($2.25), Arkansas ($2.37), Iowa ($2.37), Wisconsin ($2.40), Colorado ($2.41), Kansas ($2.41), Texas ($2.42), Missouri ($2.43), Mississippi ($2.44), and Louisiana ($2.45).
Electric
The nation’s top 10 most expensive states for public charging per kilowatt hour are West Virginia (52 cents), Alaska (48 cents), Hawaii (45 cents), Louisiana (43 cents), New Hampshire (43 cents), New Jersey (42 cents), South Carolina (42 cents), Tennessee (42 cents), Alabama (42 cents), and California (42 cents).
The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (26 cents), Wyoming (27 cents), Missouri (28 cents), Nebraska (29 cents), Delaware (31 cents), Vermont (31 cents), Utah (32 cents), Iowa (32 cents), Maryland (32 cents), and New Mexico (34 cents).
