VERIFY: Are gas prices in Arizona more expensive than ever?

According to an ASU economist, the average price for a gallon of unleaded gas in Arizona of $4.59 per gallon does not represent the most expensive “real price.”

According to an ASU economist, the average price for a gallon of unleaded gas in Arizona of $4.59 per gallon does not represent the most expensive “real price.”

In this story aired March 14, 2022, on 12 News:

Even though prices in what economists would call ‘nominal terms’ are up, your cost for driving a mile is actually going down for the past decade.

– Lee McPheters, research professor of economics and the director of the JPMorgan Chase Economic Outlook Center