PHOENIX — Gas prices across the Valley jumped about 14 cents overnight into Wednesday.
In the Valley, the average price for a gallon of gas is $4.23 Wednesday according to AAA, 26 cents more than the average one month ago of $3.97.
RELATED: Find the cheapest gas prices in your area here
Nationally, the cost for a gallon edged a penny higher Wednesday after 99 consecutive days of declining gas prices.
The national average price rose to about $3.68 per gallon, according to the AAA, but prices have been in steady decline. Wednesday's average is lower than the week-ago average of $3.70 per gallon and well below last month's average of $3.90 per gallon.
Prices soared above $5 per gallon over the summer nationally, adding to financial pressure on families and creating a potential headache for the Biden administration. While the White House has no role in determining what you pay at the pump, gas prices are always a political issue.
The cost of almost everything has spiked as the global economy emerges from the pandemic, but the price of gasoline is something Americans watched ticking higher daily this year at every corner gas station.
Gas prices roughly follow crude and the cost of a gallon peaked in the middle of June as a barrel of crude crossed the $120 barrier. Crude prices have tumbled more than 20% since then and gasoline prices are following along.
There are a number of factors that could keep prices where they are, and potentially send them higher, including the weather.
The hurricane season officially begins in June, but most storms threaten the U.S. from August to October. The National Oceanic and Atmospheric Administration says the likelihood of increased hurricane activity this year is 65%.
