AAA: Crude oil costs drive up Arkansas gas prices

(The Center Square) - Gas prices increased in Arkansas this week as crude oil prices rebounded, AAA said Thursday.

The average cost of gas statewide rose six cents from last week to $3.13 a gallon, AAA said. That average is still 36 cents less per gallon than this day last year and remains below the national average.

Arkansas has the eighth-lowest gas price average in the country, according to AAA.

The national average for a gallon of regular unleaded gas dropped by one cent this week to $3.44 and is 42 cents lower than this same day last year.

Across the nation, drivers saw gas prices increase along with crude oil prices.

“Gas prices are up following an increase in crude oil prices,” said AAA spokesperson Nick Chabarria. “Crude oil prices account for around sixty percent of the final price drivers pay at the pump, so as crude oil goes, typically so too do gas prices.”

Crude oil prices are around $78 per barrel, which represents an 8% increase from the beginning of August. A slowdown in demand thanks to the end of the summer season is expected to keep gas prices from rising too high, AAA said.

In Arkansas, the highest gas prices are in Fayetteville-Springdale-Rogers, where drivers are seeing an average of $3.19 at the pump, which is 18 cents higher than last week.

Drivers in West Memphis are enjoying the lowest prices in the state with an average of $2.99 a gallon, which is three cents lower than last week, according to AAA.