Arkansas gas prices drop below 2022 levels

Published: Oct. 9, 2023 at 8:03 AM CDT
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JONESBORO, Ark. (KAIT) - Arkansas motorists are paying 14 cents a gallon less to fill their rides than they did last October. reported Monday the average price of unleaded gasoline fell 9.3 cents a gallon last week to $3.24. That’s 21.3 cents less than a month ago and 14 cents a gallon than a year ago.

The national average also fell 10.2 cents a gallon in the last week to $3.67.

Jonesboro local Tom Archer said he and his family drive a lot so when the prices fall it goes a long way towards helping out their budget.

“For us, we drive a lot so every little bit as far as the price of a gallon will help as far as the monthly budget goes,” Archer said.

While Patrick De Haan, head of petroleum analysis at GasBuddy, exalted the decline in prices, he cautioned that recent attacks on Israel could be “potentially destabilizing.”

“I’m hopeful the violence won’t spread, limiting the impact to these falling gas prices,” he said. “Even with oil prices rising as a reaction to the attacks, I remain optimistic the national average could decline another 25-45 cents by late November.”

Should the violence in the region escalate, he said oil prices could be affected.