AAA: Arkansas gas prices see 17-cent one-week jump
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LITTLE ROCK, Ark. – Arkansas gas prices have taken a 17-cent jump in in the past week according to statistics from AAA.
On Thursday, AAA reported Arkansas gas prices were averaging $3.35 for a gallon of regular unleaded fuel. Representatives said this was one of the highest recent one-week jumps, but still down 54 cents from this time last year.
Cleveland County has the highest average price in the state at $3.55, while Faulkner County is the lowest in the state at $3.24 according to AAA.
In the Little Rock / North Little Rock metro, AAA has prices averaging $3.30, up from $3.14 a week ago. Hot Springs is at $3.35 up from last week’s $3.13. Pine Bluff has a $3.32 average, up from last week’s $3.13.
Despite the jump, gas prices remain low in the Natural State. The only state with an average price lower than Arkansas is Mississippi at $3.18.
The national average for gas is $3.71 with the highest average being in California at $4.94.
AAA attributed the price up-swing as a result of changes in the crude market and higher levels of summer travel. The heat has led some refineries to cut back production, and Saudi Arabia has also cut back its production.
“Increasing crude oil prices, decreasing gasoline inventories and strong demand for fuel thanks to a busy summer travel season are forcing retail gas prices even higher,” AAA spokesperson Nick Chabarria said. “Price averages are still well below where they were last summer, however if crude oil prices continue to increase, we will see the year-over-year price gap narrow even further.”
If crude oil prices remain elevated then pump gas prices will also increase, AAA representatives said.
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