Average gasoline prices in Arkansas have risen 15.6 cents per gallon in the last week, according to GasBuddy’s survey of 1,826 stations in Arkansas. The average price of regular gas in Arkansas on Jan. 3 was $2.85 per gallon, while the national average was $3.19 per gallon.
Prices in Arkansas are 8.9 cents per gallon lower than a month ago and stand 8.6 cents per gallon lower than a year ago. The national average price of diesel has fallen 1.4 cents in the last week and stood at $4.67 per gallon on Monday.
According to GasBuddy price reports, the cheapest station in Arkansas at the beginning of the week was priced at $2.32 per gallon, while the most expensive was $3.25 per gallon, a difference of 93.0 cents per gallon.
The national average is down 22.5 cents per gallon from a month ago and stands 9.5 cents per gallon lower than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.
“For the first time in two months, the nation’s average price of gasoline rose sharply last week, as extremely cold weather led to many refinery issues, shutting down over a million barrels of refining capacity, pushing wholesale prices up,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “In addition, China’s reopening plans gave markets inspiration that global oil demand will start to recover, as China’s nearly three-year Covid-zero policies appear to be coming to an end. While the jump at the pump will likely be temporary as most refiners get back online after cold-weather related issues, some regions like the Rockies may see more price increases than others as cold-weather shutdowns hit the region fairly hard, with one refinery likely remaining down through the first quarter of 2023. Most areas have seen the bulk of the rise already hit, but should oil continue to rally, more increases could be on the way.”
Neighboring areas and their current gas prices:
Memphis- $2.94/g, up 10.7 cents per gallon from last week’s $2.84/g.
Little Rock- $2.82/g, up 17.9 cents per gallon from last week’s $2.64/g.
Shreveport- $2.80/g, up 27.7 cents per gallon from last week’s $2.52/g.
To visit GasBuddy, click here.
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