Market, not politics helping drive down gas prices - KAIT Jonesboro, AR - Region 8 News, weather, sports

Market, not politics helping drive down gas prices

(Source: AP Graphics Bank) (Source: AP Graphics Bank)
JONESBORO, AR (KAIT) -

As the Thanksgiving holiday draws nearer, Arkansas motorists have plenty to be thankful for this year.

Average retail gasoline prices in the state have fallen 3.6 cents per gallon in the past week, according to GasBuddy.com.

Arkansas’s average price on Sunday, Nov. 13, was $1.93/gallon. That is 6.9 cents less than the same day a year ago and 11 cents lower than a month ago.

The national average was $2.15/gallon, down 4.9 cents in the past week.

In the wake of the recent elections, experts say prices could fall further. But, they say politics will probably not play a huge role in that decrease.

“Over the next few weeks expect prices at the pump to move lower based on market fundamentals, not politics,” said Gregg Laskoski, senior petroleum analyst for GasBuddy. “Inventories remain healthy and wholesale gasoline prices across the U.S. today, on average, are more than 10 cents per gallon lower than where they stood just a week ago.”

For the latest gas prices in your area, check out our Pump Patrol.

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