Arkansas gas prices trickle down slightly

JONESBORO, Ark. (KAIT) - The price of gasoline fell slightly in the past week but remains well above what motorists paid a month ago.

According to GasBuddy.com, the average price of a gallon of regular unleaded fell 3.3 cents last week to $3.11. That’s 16.8 cents higher than a month ago and 3.9 cents a gallon higher than the same time last year.

The national average fell 4.4 cents a gallon to $3.44. Diesel prices dropped 5.2 cents in the last week to $4.60.

“For the first time in 2023, the national average price of gasoline has seen a weekly decline, primarily thanks to a sharp and sudden drop in the price of oil,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

While he expects to see more declines in diesel prices, he says motorists should expect gas prices to make a U-turn.

“High levels of coming maintenance and the eventual transition to summer gasoline could lead today’s declines to reverse down the road,” he said. “For now, motorists should enjoy the decline, but be wary as we’re likely to eventually see increases again down the road.”