Gas Drops Below $1.15 in Arizona

By Douglas A. McIntyre Updated Jan 13, 12:43PM EST · Published Feb 25, 11:20AM EST

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Gas Drops Below $1.15 in Arizona — © Thinkstock

In Tucson, Ariz., an ARCO station is selling gasoline from $1.12 a gallon. It is just one of a number of stations in Tucson selling a gallon of regular for $1.15 or less. That is against a national average of about $1.71 a gallon, as well as $1.37 for Tucson and $1.51 for all of Arizona.

Arizona has two of the 12 cities in the United States with the lowest gas prices, while Texas has four, according to GasBuddy. Three stations in Cuero, Texas, are also selling gas near $1.15 a gallon. Cuero, ostensibly the unofficial turkey capital of the world, benefits from being near the huge refinery cluster on the Gulf of Mexico and south of Houston.

The price of crude remains near multiyear lows, just above $31 a barrel on Thursday. The price has a 52-week low of $26.05 and 52-week high of $65.69. An agreement among several producing nations to cap production at January levels has not helped boost prices significantly. Demand is slack worldwide, to some degree because of the slowdown in the Chinese economy.
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Besides proximity to refiners, another contributor to gas prices are state and federal taxes that affect gas prices from place to place. According to the American Petroleum Institute, the national average is $0.48 per gallon. Arizona and Texas are near the bottom of the list, at $0.3749 and $0.384, respectively. 24/7 Wall St. recently analyzed states with the highest and lowest gas taxes.

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.