Arkansas Gas Prices Low in Comparison to Most Other States - KAIT Jonesboro, AR - Region 8 News, weather, sports

Little Rock, AR

Arkansas Gas Prices Low in Comparison to Most Other States

APRIL 2, 2005 - Posted at 1:03 p.m. CST

 

LITTLE ROCK, AR - Gas prices in Arkansas are at record-high levels, but residents in 39 other states are paying more at the pump.  James Williams, an engery economists with WTRG Economics, based in central Arkansas, says higher prices and lower excess capacity for crude oil have contributed to the increase.

Williams said it's hard to see prices dropping dramatically, and it looks like it's going to be an expensive summer.  In his words, "It's time to park the SUV."

Unleaded gas prices in Arkansas were hovering just under $2.10 per gallon yesterday, although at least two Jonesboro stations had the price of a gallon of regular petro as high as $2.19(9) on Saturday.  Statistics compiled by the American Automobile Association show the Arkansas average is more than six cents below the national average.

Hawaii residents were paying the most, having to fork over $2.47 per gallon when they go to fill up.  New Jersey, meanwhile, had the lowest gas prices, with an average of $1.98 per gallon.

AAA spokesman Justin McNaull said New Jersey's prices are explained in part by lower taxes.  He said New Jersey residents also benefit from being near the port in New York and the Philadelphia harbor, and from the presence of several refineries.

How near refineries are can be a big factor in how much gas will cost in an individual state.  Prices also vary across the country because of the variation in the amount of gasoline taxes as well as the availability of alternative gases, such as ethanol, in each state.

(The Associated Press contributed to this report.)

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