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Gas costs in Little Rock are climbing as summer temperatures rise

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Little Rock, Arkansas – Not only are temperatures rising across the state, but gas prices are as well.

According to a GasBuddy survey, gas prices in Little Rock have risen 15.6 cents within the past week.

The average price per gallon for gas in Little Rock is $3.36, according to the GasBuddy survey of 334 stations.

When comparing gas prices to what they were a month ago, they are 33.5 cents per gallon higher but they are still 29.7 cents per gallon lower than a year ago.

GasBuddy said that the cheapest gas station had gas priced at $3.14 per gallon, and the most expensive was priced at $3.49.

“Gas prices suddenly soared over the last week due to heat-related refinery outages that impacted some of the largest refineries in the country, at a time when summer gasoline demand peaks and as gasoline inventories slid to their lowest July level since 2015,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “In addition, oil prices surged to their highest level in months, rising to over $80 per barrel due to SPR releases coming to an end and concerns over cuts in supply from Saudi Arabia and Russia, the second and third largest oil producers in the world. Motorists have seen average gasoline and diesel prices rise at the fastest pace in over a year, but the rise seen in the last week should now start slowing. However, as we get ever closer to the peak of hurricane season, any new issues could easily push the national average over $4 per gallon for the first time in 2023. Drivers may want to brace for potentially higher prices yet.”

 

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