Arkansas gas prices drop to 15-month low in latest AAA report

LITTLE ROCK, Ark. – The latest AAA gas price report shows the continued declines in Arkansas gas prices have now taken the state to a 15-month low.

The agency reported Thursday that the current average for a gallon of unleaded gas in Arkansas is $2.88 per gallon. That is down 7 cents from last week’s $2.95, down nearly 17 cents over the last 30 days and down 60 cents since this time last year.

The Little Rock – North Little Rock metro is seeing the lowest prices in central Arkansas, matching the state average of $2.88. Hot Springs is a penny higher at $2.89, with Pine Bluff above that at $2.97.

The highest average price in the state is in Izard County, at $3.15, while the lowest is in Greene County, at $2.62.

Arkansas is well under the national average price of $3.24 per gallon. The Natural State has the ninth lowest average price at the pumps, compared to Californians paying the most at $4.76 per gallon.

AAA points to falling crude oil prices as being behind the drop, noting the current level is the first time crude has been below $70 a barrel since June 2023. The travel company noted that the cost of crude accounts for 60% of pump prices.

According to AAA, the Energy Information Administration also recorded a 5% drop in national demand for gasoline for the week, which is another reason for prices dropping.

AAA spokesperson Nick Chabarria said the price drop also reflects a seasonal adjustment.

“Gasoline demand typically declines as we transition from summer to fall, which results in lower prices,” Chabarria said. “Lower prices are also aided by the annual switchover from summer-blend gasoline to winter-blend gasoline, which is slightly cheaper to produce.”

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