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Arkansas gas prices drop as demand rises

Updated: Jun. 14, 2021 at 7:55 AM CDT
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JONESBORO, Ark. (KAIT) - The cost of a fill-up in Arkansas dropped in the past week, despite increased national demand for gasoline.

According to GasBuddy.com’s daily survey of 1,826 Arkansas stations, the price for a gallon of regular unleaded fell 2.1 cents in the last week to an average of $2.74.

Motorists are currently spending 2.3 cents a gallon less than they did a month ago, but still 94.9 cents more than last year.

Nationally, gasoline prices rose 1.6 cents a gallon in the past week to an average of $3.07.

Patrick De Haan, head of petroleum analysis for GasBuddy, said national prices have continued to “inch higher” as oil prices reach $71 per barrel, their highest levels since 2018.

“Strong gasoline demand as states and cities reopen will likely continue to be a major factor keeping gas prices elevated even as oil production climbs in the months ahead,” De Haan said.

With supply “being gobbled up very quickly,” he cautions gas prices will likely stay at elevated levels for the foreseeable future.

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