Arkansas gas prices slip a few more cents

Arkansas motorists are paying a little less this week to fill up their gas tanks.
Arkansas motorists are paying a little less this week to fill up their gas tanks.(WRDW)
Published: Oct. 24, 2022 at 10:26 AM CDT
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JONESBORO, Ark. (KAIT) - Arkansas motorists are paying a little less this week to fill up their gas tanks.

GasBuddy.com reported Monday that the average price of regular unleaded gasoline fell 6.7 cents in the last week to $3.28.

Prices remain 5.2 cents a gallon higher than a month ago and 26.0 cents a gallon higher than in 2021.

National prices fell 9.3 cents a gallon in the last week to an average of $3.77.

Meanwhile, the national average of diesel rose 4.0 cents to $5.30.

“With oil prices struggling a bit after reaching $93 after OPEC+’s decision to cut production, many regions could see falling gas prices again this week as demand continues to decline seasonally, especially if more data points to a significant economic slowdown,” said Patrick De Haan, head of petroleum analysis for GasBuddy.

He noted that while gas prices have seen a “large drop,” diesel prices have remained mixed and are “heading higher in the Northeast as inventorites drop to extremely tight levels ahead of the heating oil season.”

As for the drop in gasoline prices, he said politics has nothing to do with it.

“Motorists are reminded that the decline in gasoline prices is seasonal and should continue into the fall, and is unrelated to the coming election,” De Haan said. “Seasonality is king in driving prices, not the desires or hopes of politicians.”