Gas prices down in the natural state

Gas prices down in the natural state
pic of gas tank (Source: KAIT-TV)

JONESBORO, AR (KAIT) -Something is falling in Arkansas that will have everyone spreading good cheer.

According to a recent survey by GasBuddy, prices in the natural state have fallen 5.7 cents per gallon in the past week.

The national average has fallen 2.7 cents per gallon.

Prices on Dec. 9 were 14.5 cents per gallon lower than a year ago, and 37 cents lower than a month ago.

The national average has lowered 28 cents per gallon during the last month and is 3.8 cents down from a year ago.

Head of petroleum analysis for GasBuddy Patrick DeHaan said lower prices are happening throughout the country.

"Average gas prices have continued to move lower in most states in the last week as retail prices continue to catch up to the low price of oil,” DeHaan said. “27 states boast a low price of $2 per gallon or less, and Missouri's statewide average will likely fall under $2 per gallon this week, representing the first state to cross the psychological barrier. While the going has been good at most gas pumps, OPEC countries did agree to curb oil production, but the cut was smaller than we had expected, and for a shorter duration than anticipated, resulting in a small upward move in oil, one that may not immediately curb the declines. We appear poised to see the national average drop perhaps at least one more week. And we could close this week with the nation's average in the $2.30s, the lowest in over a year."

Areas near Arkansas and their current gas price climate: Memphis- $2.11/g, down 4.7 cents per gallon from last week's $2.16/g. Little Rock- $2.06/g, down 8.7 cents per gallon from last week's $2.15/g. Shreveport- $1.98/g, down 1.8 cents per gallon from last week's $2.00/g.

For more information, click here to connect to GasBuddy’s website.

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