Analyst: Brace for $3/gallon gas

Analyst: Brace for $3/gallon gas
Despite Arkansas gas prices falling nearly two cents in the last week, one analyst says motorists should brace themselves for a price jump at the pump. (Source: Live 5/File)

JONESBORO, Ark. (KAIT) - Despite Arkansas gas prices falling nearly two cents in the last week, one analyst says motorists should brace themselves for a price jump at the pump.

According to GasBuddy.com, the state’s average price for a gallon of unleaded gasoline fell 1.9 cents to $2.37. That’s 0.3 cents higher than a month ago and $1.27 more than last year.

Meanwhile, the national average rose 0.7 cents in the last week to an average of $2.89/gallon.

“The nation’s gas prices perked up again last week as oil prices advanced to fresh multi-year highs on Covid improvements overseas and the switch to summer gasoline, which is basically now complete,” said Patrick De Haan, head of petroleum analysis for GasBuddy.

He said the national average hit its highest level in two years, and he expects prices to increase in the weeks ahead as more people hit the roads.

“Americans may now want to brace themselves for the possibility of a $3/gal national average,” De Haan said. “We indeed may see some weeks with new records as Americans get in their cars this summer- but the question is how many will do so? That will determine how much higher prices will go.”

To find the cheapest gas prices in your area, visit the Region 8 Pump Patrol.

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