Arkansas, AR, October 8- Gasoline prices in Arkansas have risen 2.8 cents per gallon in the past week, averaging $2.66/g yesterday, according to GasBuddy’s daily survey of 1,826 stations in Arkansas. This compares with the national average that has increased 2.2 cents per gallon versus last week to $2.91/g, according to GasBuddy.
Average gasoline prices on October 8 in Arkansas have ranged widely over the last five years:
$2.23/g in 2017, $2.03/g in 2016, $2.10/g in 2015, $3.07/g in 2014 and $3.12/g in 2013.
Including the change locally during the past week, prices yesterday were 42.6 cents per gallon higher than a year ago and are 9.0 cents per gallon higher than a month ago. The national average has increased 6.0 cents per gallon during the last month and stands 43.7 cents per gallon higher than a year ago.
Areas near Arkansas and their current gas price climate:
Memphis- $2.67/g, up 4.1 cents per gallon from last week’s $2.63/g.
Little Rock- $2.62/g, up 4.7 cents per gallon from last week’s $2.57/g.
Shreveport- $2.62/g, up 4.6 cents per gallon from last week’s $2.57/g.
“The national average gas price has broken out of a well-established rut, climbing above $2.90 per gallon for the first time since mid-June on rising oil prices ahead of the reinstatement of sanctions against Iran and OPEC failing to pump enough oil to meet robust demand,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “We may see prices continue to lift ahead of the mid-terms, however completely unrelated to the elections, but due to constant threats from an improving economy: higher demand and lower supply is tipping the balance of the oil market and pushing prices higher. We may even soon see $3 per gallon nationally, which would be the first time since October 2014, if oil prices continue to rise. I, along with motorists, will be eagerly awaiting any relief at the pump, but don’t hold your breath- it may get worse before it gets better.”
For LIVE fuel price averages, visit http://FuelInsights.GasBuddy.com.
GasBuddy is the technology company changing the way more than 75 million consumers find, purchase, and save money on gasoline. Founded in 2000, the original GasBuddy website was a pioneer in crowd-sourced information, leveraging technology, big data, and a passionate community that now connects more than 70 million users with real-time, accurate fuel pricing information as well as reliable reviews of gas station amenities and services. The app and website have the most accurate and real-time fuel prices at over 140,000 unique stations in the United States, Canada, and Australia and is the most comprehensive money-saving companion while on the road. GasBuddy is available on all mobile platforms. For more information, visit www.gasbuddy.com.