Why Phoenix gas prices spiked in February
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Gas prices in the Valley have been rising since the start of the year and show no signs of retreating.
Why it matters: We are entering a historically pricey season for gas, driven by spring break travel demand, that is likely to continue into the summer, AAA spokesperson Julian Paredes told Axios.
By the numbers: The average price per regular unleaded gallon increased nearly 40 cents to $3.53 between Jan. 1 and Feb. 1, per monthly GasBuddy data.
- AAA's daily gas price tracker shows prices have ticked up even more throughout February.
- The average price in Maricopa County was $3.64 on Monday, while the national average was $3.14, per AAA.
The intrigue: Arizona's gas prices are almost always steeper than the national average because most of the state gets its fuel supply from California, where environmental regulations and taxes are costlier, per Paredes.
- Several California refineries are undergoing maintenance before the busy summer season, which has limited Arizona's supply and driven up prices, he said.
What we're watching: In the coming weeks, Arizona will switch to a summer gasoline blend designed to decrease pollution by limiting evaporation. This is a pricier blend and typically results in a 10-cent-per-gallon price increase for drivers, Paredes told us.
1 silver lining: It could be worse. This time in 2022, the average price per gallon was about $5 in metro Phoenix.