GasBuddy reports decrease in gas price average

Published: Aug. 1, 2022 at 11:13 PM CDT
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JONESBORO, Ark. (KAIT) - In the last week, Arkansas gas prices have fallen by 16.2 cents.

GasBuddy surveyed 1,826 gas stations in Arkansas, and as of Aug. 1, the state’s average gallon of gas is $3.75.

The national average price of gasoline has fallen 15.9 cents per gallon in the last week, averaging $4.17 per gallon on Aug. 1.

According to GasBuddy price reports, on July 21, the cheapest station in Arkansas was priced at $3.29 per gallon. The most expensive was $5.00 per gallon, a difference of $1.71.

While prices in Arkansas are 61.6 cents per gallon lower than a month ago, it’s still 88.9 cents per gallon higher than a year ago.

About a month ago, the national average was down by 65.5 cents per gallon which is $1.02 a gallon higher than a year ago. GasBuddy said this average came from data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

Historical gasoline prices in Arkansas and the national average going back ten years:

August 1, 2021: $2.86/g (U.S. Average: $3.16/g)

August 1, 2020: $1.88/g (U.S. Average: $2.18/g)

August 1, 2019: $2.36/g (U.S. Average: $2.72/g)

August 1, 2018: $2.59/g (U.S. Average: $2.87/g)

August 1, 2017: $2.08/g (U.S. Average: $2.32/g)

August 1, 2016: $1.90/g (U.S. Average: $2.12/g)

August 1, 2015: $2.38/g (U.S. Average: $2.65/g)

August 1, 2014: $3.28/g (U.S. Average: $3.51/g)

August 1, 2013: $3.40/g (U.S. Average: $3.62/g)

August 1, 2012: $3.30/g (U.S. Average: $3.52/g)

“We continue to see average gas prices falling in every state, with the national average down for the seventh straight week. Even better, nearly 20 states have also seen their average decline to $3.99 or less, with over 70,000 stations now at that level or below,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “The outlook is for a continued drop in most areas, however, some supply tightness in areas of the Northeastern U.S. could push prices up slightly until inventories rise, or imports do. For now, Americans are seeing prices nearly 90 cents lower than their mid-June peak and are spending close to $330 million less on gasoline every day as a result. As long as oil prices hold at these levels or lower, we’ll see another decline in most areas this week.”

Click HERE is access GasBuddy data.

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