Gasoline inventories fall, pump prices keep climbing
Gasoline inventories fell by a larger-than-expected 5 million barrels last week, according to newly-released government data, and the state's average pump price hit a new record.
The U.S. Energy Department also reported Wednesday that the nation's supply of crude oil inventories grew by 300,000 barrels last week. Although that was a smaller buildup than expected, crude oil prices moved lower in early trading, back below $65 a barrel.
AAA Arizona, a travel services membership club, Tuesday reported a new record statewide pump price of $2.55 per gallon of self-serve unleaded regular.
The national average, also a record, is now a penny higher at $2.56 per gallon.
The average price for a gallon of regular-unleaded gasoline in the Phoenix-Mesa area hit a new record at slightly under $2.54. The East Valley and West Valley areas both are averaging $2.53 per gallon, according to AAA, while Scottsdale drivers are paying $2.55 per gallon on average.
Flagstaff has the state's highest average at $2.64.
Nationally, California remains the state with the highest average at $2.77 per gallon, and Wyoming has the lowest average at $2.40.
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