The statewide gas price average in Arkansas has been on a decline recently.
In Arkansas, the average price for a gallon of unleaded fuel is currently $3.00, which is six cents less than this day last week and eleven cents less per gallon compared to this time last year.
Crude oil prices have been dropping since the start of June and reached a six-month low this week. West Texas Intermediate is currently trading at $73 per barrel, down from $79 at the end of May. Crude oil is the main ingredient in gasoline and makes up 50-60 percent of the cost of each gallon of fuel.
AAA spokesperson, Nick Chabarria, said the price drop is good for those traveling this summer.
“Arkansas drivers are seeing year-over-year savings at the pump, good news for those planning summer road trips,” Chabarria said. “If crude continues to fall, motorists could see pump prices drop lower just as we enter the peak summer driving season.
Drivers in Texarkana are paying the most on average in the state at $3.15 while drivers in Jonesboro are paying the least at $2.92 per gallon.
The national average gallon of regular unleaded fuel is $3.49, which is eight cents less compared to this day last week and five cents less compared to the price per gallon at this same time last year, according to AAA Gas Prices.
Arkansas has the 2nd lowest gas price average in the country.
Drivers in Arkansas can expect to see gas prices continue to decrease this summer.
