Pump Prices Starting to Retreat

After 51 consecutive days of rising gasoline prices, AAA reports that prices are starting to decrease slightly. The statewide Arizona average is just under $2.67 a gallon, an increase of more than two cents since last week. The national average is nearly $2.68. That's a decrease of less than a penny. Here in Globe-Miami, prices are around $2.54.

Since early May, oil and gasoline prices have risen on glimmers of an economic turnaround and pure momentum. But AAA says the climb defied the fundamentals of the market, given the weak state of the global economy, large amounts of existing supply and continued meager demand.