JONESBORO, Ark. (KAIT) - The price of gasoline fell 3.9 cents a gallon in the past week to an average of $2.31, according to GasBuddy.com’s latest survey.
Gas prices in the Natural State are now 11.2 cents a gallon cheaper than a month ago.
The national average price of gasoline fell 6.8 cents per gallon in the past week to an average of $2.63. That’s 15.9 cents less than a month ago.
“The national average price of gasoline has now fallen to the lowest level of the summer,” said Patrick DeHaan, head of petroleum analysis at GasBuddy.
However, he cautions the drop in prices could slow as some OPEC members consider cutting oil production.
“A production cut from oil producers may be more akin to putting lipstick on a pig as oil markets have plenty of downside ahead as demand for fuels begins to move lower into the fall with summer driving season ending soon,” he said.
DeHaan said the national average could fall an additional 35 cents per gallon by Thanksgiving “should the trade tensions and geopolitical risks remain the same.”