Average gasoline prices in Arkansas have fallen 0.6 cents per gallon in the last week, averaging $3.07 per gallon today, according to GasBuddy's survey of 1,826 stations in Arkansas. Prices in Arkansas are 14.7 cents per gallon lower than a month ago and stand 101.2 cents per gallon lower than a year ago. The national average price of diesel has fallen 3.2 cents in the last week and stands at $3.94 per gallon.
According to GasBuddy price reports, the cheapest station in Arkansas was priced at $2.76 per gallon Sunday, while the most expensive was $3.99, a difference of $1.23 per gallon.
The national average price of gasoline is unchanged in the last week, averaging $3.51 per gallon as of Monday. The national average is down 14.7 cents per gallon from a month ago and stands 106.5 cents per gallon lower than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.
"In the run up to Memorial Day, the national average price of gas has seen little overall movement over the last week. We've seen more states see prices climb than fall, which has been driven by oil's volatility as debt ceiling discussions are ongoing," said Patrick De Haan, head of petroleum analysis at GasBuddy.
Historical gasoline prices in Arkansas and the national average going back ten years:
- May 22, 2022: $4.09/g (U.S. Average: $4.57/g)
- May 22, 2021: $2.75/g (U.S. Average: $3.03/g)
- May 22, 2020: $1.61/g (U.S. Average: $1.95/g)
- May 22, 2019: $2.49/g (U.S. Average: $2.85/g)
- May 22, 2018: $2.65/g (U.S. Average: $2.95/g)
- May 22, 2017: $2.08/g (U.S. Average: $2.35/g)
- May 22, 2016: $2.05/g (U.S. Average: $2.28/g)
- May 22, 2015: $2.45/g (U.S. Average: $2.74/g)
- May 22, 2014: $3.37/g (U.S. Average: $3.65/g)
- May 22, 2013: $3.40/g (U.S. Average: $3.66/g)
Neighboring areas and their current gas prices:
Memphis: $3.18 per gallon, down 0.5 cents per gallon from last week's $3.18 per gallon.
Little Rock: $3.02 per gallon, down 1.6 cents per gallon from last week's $3.03 per gallon.
Shreveport- $3.00 per gallon, up 3.5 cents per gallon from last week's $2.96 per gallon.
"I think we'll see prices rise slightly as we get closer to Memorial Day, especially if there are positive developments in the debt ceiling discussions in D.C., while pessimism could drive prices slightly lower," said De Haan. "I continue to be optimistic that the national average will remain under $4 per gallon for most of, if not the entire summer, with Americans spending a combined $1.6 billion less on gasoline over Memorial Day weekend this year compared to last."