Local gas prices staying low
Local gas prices staying low
Motorist enjoying savings
From Gregg Laskoski Sr. Petroleum Analyst
Average retail gasoline prices in Arkansas have fallen 5.2 cents per gallon in the past week, averaging $ 1.60/gallon yesterday, according to GasBuddy's daily survey of 1,826 gas outlets in Arkansas. This compares with the national average that has fallen 6.5 cents per gallon in the last week to $ 1.82/gallon, according to gasoline price website GasBuddy.com.
Areas nearby Arkansas and their current gas price climate: Memphis: $1.65/gallon, down 4.5 cents per gallon from last week. Little Rock: $ 1.64/gallon, down 4.7 cents per gallon. Shreveport: $1.61/gallon, down 3.7 cents per gallon.
Including the change in gas prices in Arkansas during the past week, prices yesterday were 48.3 cents per gallon lower than the same day one year ago and are 15.2 cents per gallon lower than a month ago. The national average has decreased 17.5 cents per gallon during the last month and stands 40.0 cents per gallon lower than one year ago.
“As the Northeast digs out from the brutal blizzard Jonas, commodities markets are attempting to dig themselves out of their recent hole,' said Will Speer, petroleum analyst. 'Crude oil futures have lost 18% of value since the end of 2015 and have cleared the way for the retail gasoline price decline. Ample supply has been attributed as the cause of prices falling at the pump. Gasoline inventories sitting at 245 million barrels are the highest the U.S. has seen since March 1990,” he said.
