Gas prices in Arkansas at their lowest level since January

Little Rock, Arkansas – Arkansas gas prices are rapidly falling and have reached levels last seen at the beginning of 2022.

According to AAA, the average cost of a gallon of normal in Arkansas is $2.98, down 10 cents from the previous week’s average and 4 cents from the cost a year ago.

According to the AAA report from January 27, this year, petrol in Arkansas cost an average of $3 a gallon, with prices rising throughout the month as tensions between Ukraine and Russia grew. After Russia’s invasion of Ukraine on February 24th, gas prices in the state increased to $3.20 per gallon by mid-February and reached $3.34 by March.

Mid-June saw Arkansas’ highest average price of the year, $4.54 a gallon.

With an average cost of $2.70, Greene County leads the state, closely followed by Hot Spring County’s average cost of $2.75. At $3.37, Montgomery County has the highest average in the state.

Little Rock, which has a median income of $2.91, is below the state average, Pine Bluff, has a median income of $2.99, and Hot Springs, which has a median income of $2.94.

Arkansas has the third-lowest gas prices in the nation and continues to be cheaper than the $3.47 national average. California has the highest price in the nation at $4.90 per gallon. The lowest rate in the nation is $2.84 in Texas.

Although the AAA warns that the price decline may not endure, it links the decrease to stabilized crude oil prices.

“Arkansas gas prices are now cheaper than they were this time last year.” AAA spokesperson Nick Chabarria said. “Drivers should be aware there are some indicators that oil prices may rebound, and global gasoline demand may increase in the near future which could reverse the current downward price trend.”