Analysts: Expect 'bumpier' ride ahead in gas prices - KAIT Jonesboro, AR - Region 8 News, weather, sports

Analysts: Expect 'bumpier' ride ahead in gas prices

(Source: Pablo) (Source: Pablo)
JONESBORO, AR (KAIT) -

While gas prices once again fell this past week, analysts warn the road ahead “may be a bit bumpier.”

Average retail gasoline prices in Arkansas fell 3.6 cents in the past week to an average of $2.07 per gallon, according to GasBuddy.com. That compares to the national average of $2.33/gallon.

Prices Sunday, May 14, were 9.8 cents a gallon higher than they were the same day a year ago, but 9.4 cents lower than a month ago. The national average decreased 8.1 cents per gallon in the last month and stands 10.4 cents per gallon higher than the same day in 2016.

“The national average gas price has again declined in the last week,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. “But the road ahead may be a bit bumpier.”

DeHaan said a mid-week rally in oil markets saw oil prices “sneak in” a net gain for the first week, and that may affect prices in the weeks ahead.

“Thank Wednesday’s weekly report from the Energy Information Administration for the rally as government data showed a larger than expected decline in oil inventories and gas inventories,” DeHaan said. “Watch both of these factors this week to get a taste for where prices will go to start the summer driving season.”

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