The statewide gas price average in Arkansas is $3.01 for a gallon of regular unleaded fuel, according to the AAA Arkansas Weekend Gas Watch. That price is four cents less compared to this day last week and is 27 cents less per gallon compared to this day last year. Of the major metropolitan areas surveyed in Arkansas, drivers in Texarkana are paying the most on average at $3.06 while drivers in Hot Springs are paying the least at $2.89 per gallon. The national average price for a gallon of regular unleaded is $3.37, which is two cents less compared to this day last week and 28 cents less than the price per gallon at this same time last year, according to AAA Gas Prices.
The higher fuel demand outlook from China along with the supply concerns from the Ukraine-Russia war continue to keep crude oil prices volatile. As a result, prices at the pump are once again mixed with some areas seeing decreases while others remain unchanged. Inflation and higher interest rates are playing into market uncertainty as an economic slowdown weighs on the minds of analysts while demand for travel remains optimistic.
"Arkansas drivers are paying near $3 per gallon on average for the first time since mid-January," said AAA spokesperson Nick Chabarria. "As many people prepare for spring break and summer travel – it is important to keep your vehicle well-maintained to optimize its fuel economy as well as prevent breakdowns."
Drivers in Arkansas are paying the 5th lowest gas price average in the country, according to gasprices.aaa.com. Meanwhile, drivers in California are the paying the most at $4.83 on average for a gallon of regular unleaded.