‘Nowhere for gas prices to go but up’

‘Nowhere for gas prices to go but up’

JONESBORO, Ark. (KAIT) - With crude oil at its highest level in a year, gas prices in Arkansas have shot up.

In the last week, prices rose 6.6 cents per gallon to an average of $2.05.

According to GasBuddy.com, Arkansas motorists are paying 16.7 cents a gallon more than they did a month ago.

The national average rose just 4.9 cents a gallon in the last week, to an average of $2.31.

Patrick De Haan, head of petroleum analysis for GasBuddy, points to “oil’s meteoric rally” for the sudden jump at the pump.

“With a barrel of crude oil now at its highest level in nearly a year, there’s nowhere for gas prices to go but up,” he said. “How long we may be on this road relies on continued reduction in new COVID cases, but we may for the coming weeks seeing gas prices continuing their climb.”

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