Arkansas gas prices continue upward trend
JONESBORO, Ark. (KAIT) - While one analyst says the latest jump at the pump is “running out of steam,” gasoline prices in the Natural State continue to drift upward.
According to GasBuddy.com’s daily survey of 1,826 stations in Arkansas, the average price for a gallon of regular unleaded rose two cents in the last week to $3.06.
That’s 23.2 cents a gallon more than motorists paid a month ago and $1.25 higher than a year ago.
The national average rose 0.6 cents in the past week to $3.38 per gallon.
“The jump in gas prices that started nearly a month ago is finally running out of steam for the time being, as oil prices have stabilized,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “For most motorists, gas prices are likely to greatly slow their recent ascent, and we could even see some small declines in the week ahead.”
In Monday’s news release, De Haan noted that OPEC’s upcoming meeting could drive the market up or down. He does not expect the group to increase output.
“The odds remain high that gas prices will remain near today’s elevated levels going into the holidays, barring additional OPEC supply,” he concluded.
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