Gas prices continue to rise every day and are breaking new records as Arizona’s state average is getting closer to reaching $5.00 a gallon.
According to AAA, Arizona’s regular gas price average is $4.887 per gallon.
Maricopa County currently has the highest average out of all the counties in Arizona at $5.149 per gallon.
Why high prices now?
“I don’t see a short term fix to this really,” Dennis Hoffman, an Economics Professor at The Office of the University Economist at ASU.
Hoffman said it’s several reasons to how gas prices got to the point they are now.
It’s fewer refineries being built, and Hoffman said. That’s in addition to EPA restrictions on oxygenated fuels.
He added that investors aren’t looking to invest in fossil fuels as the country eyes more electric vehicle options.
“I think what is really driving it is the fact that investor dollars are not flowing to refineries and fossil fuel distribution, even though in the short run, you could make good money doing that,” Hoffman said.
Hoffman said the other factors have come to a head with global oil prices rising in the last few months.
“That was kind of the catalyst for this recent friction,” Hoffman said.
Likely not going down anytime soon
Hoffman said what’s needed right now is investors in the fossil fuel industry, but said that’s unlikely to happen given the talk of eliminating fossil fuels.
“Unfortunately, we're probably going to see high prices at the pump for some time and to come,” Hoffman said.
Public transportation options
Valley Metro, which operates public transportation in the Valley, said more people have been taking public transportation since gas prices started to rise.
“When you get a gallon of gas for five plus dollars or an all-day transit pass for $4, sometimes you just got to make the choice which one’s going to be better for you and your family,” said Valley Metro public information specialist Brittany Hoffman, who is unrelated to Dennis Hoffman.
Brittany said Valley Metro’s app and website can help people plan trips.
“Transit doesn’t have to be a one stop shop,” Brittany said.
There’s also the option of Share The Ride that can help address environmental impacts of commuting and the gas price toll.
“This is a great opportunity for people to carpool and or create a van pool to get to and from work or those longer destinations and commutes,” Brittany said.
Brittany said Valley Metro is also looking at service changes in certain Valley locations and seeking public comment on those changes now.
However, one thing Brittany said will be consistent is the fare.
“I can promise you that today, and at least through the end of the year, prices and fares will stay at $4 for an entire transit day,” Brittany said.
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