Arkansas gas prices tumble nearly 9 cents
Published: Oct. 16, 2023 at 8:26 AM CDT
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JONESBORO, Ark. (KAIT) - Despite tensions in the Middle East, gas prices in Arkansas and across the United States continue to tumble.

According to its weekly survey of 1,826 stations in Arkansas, reported Monday that average prices fell 8.8 cents in the last week to $3.15 a gallon. That’s 30.7 cents less than a month ago and 19.7 cents a gallon less than last year.

The national average fell 11.3 cents a gallon in the last week to $3.55.

“The downward momentum has indeed gained steam, with the national average declining over the last week,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While the price of oil jumped some 5 percent last week, I remain steadfast that additional declines are coming to gasoline prices.”

However, he cautions that the downward trend is contingent on the conflict in the Middle East.

“For now, the national average is likely to soon fall to its lowest level in six months,” De Haan said. “I believe the national average still has some 15-35 cents of declining to do the way things stand now.”