Over the past week, Little Rock has seen a notable decrease in gas prices

Little Rock, Arkansas – The nation, Little Rock, and the state of Arkansas have all received updated pricing statistics from the technology company GasBuddy.

The average price of gasoline in Little Rock has decreased by 7.9 cents per gallon over the past week, based on GasBuddy’s survey of 334 stations in the city.

The survey said that prices in Little Rock are 22.1 cents less than they were a month ago and 12.7 cents less than they were a year ago.

According to pricing estimates from GasBuddy, on Sunday, the least costly gas station in Little Rock was $2.87 per gallon, while the most expensive one was $3.49 per gallon. That represents a 62-cent per gallon difference.

On Sunday, the state’s lowest and highest prices were $2.65 and $4.10, respectively, a difference of $1.45 a gallon.

The current gas prices in nearby areas:

• Memphis- $3.23 a gallon, down 9 cents per gallon from last week’s $3.32 a gallon.
• Arkansas- $3.15 gallon, down 8.8 cents per gallon from last week’s $3.24 a gallon.
• Shreveport- $2.94 a gallon, down 6.6 cents per gallon from last week’s $3.00 gallon.

“The downward momentum has indeed gained steam, with the national average declining over the last week with again virtually every village, town, city, region, and state seeing gasoline prices fall – with the added bonus that diesel prices have also declined. While the price of oil jumped some 5% last week, I remain steadfast that additional declines are coming to gasoline prices the way the situation stands now, but remain cautious that this depends on actions that are not foreseeable, mainly the conflict in the Middle East,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “For now, the national average is likely to soon fall to its lowest level in six months. Some areas of the Great Lakes could see a price cycle in the next few weeks, which is typical after long declines as stations often pass along the drops there faster than anywhere else. I believe the national average still has some 15-35 cents of declining to do the way things stand now.”

According to GasBuddy, the national average price of diesel has decreased 6.8 cents over the past week to $4.41 per gallon.

GasBuddy’s data, which is derived from over 11 million weekly price reports spanning over 150,000 gas stations nationwide, indicates that the national average is currently 30.9 cents lower than a year ago and is down 29.9 cents from a month ago.