Gas prices up as spring arrives

Gas prices up as spring arrives

Rates still far below 2015 figures

pdehaan@gasbuddy.com Average retail gasoline prices in Arkansas have risen 3.9 cents per gallon in the past week, averaging $1.82/gallon yesterday, according to GasBuddy's daily survey of 1,826 gas outlets in Arkansas. This compares with the national average that has increased 4.9 cents per gallon in the last week to $1.98/gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Arkansas during the past week, prices yesterday were 38.1 cents per gallon lower than the same day one year ago and are 33.6 cents per gallon higher than a month ago. The national average has increased 27.4 cents per gallon during the last month and stands 44.0 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on March 21 in Arkansas have ranged widely over the last five years: $2.20/gallon in 2015, $3.30/gallon in 2014, $3.49/gallon in 2013, $3.70/gallon in 2012 and $3.42/gallon in 2011.

Areas nearby Arkansas and their current gas price climate: Memphis- $1.80/gallon, up 5.5 cents per gallon from last week's $1.74/gallon.

Little Rock- $1.82/gallon, up 4.1 cents per gallon from last week's $1.78/gallon.

Shreveport- $1.77/gallon, up 6.4 cents per gallon from last week's $1.71/gallon.

'With the U.S. average price of gas closing in on the $2 level, a price not seen since late December, it reflects a real paradox; we see simultaneously both a stark increase –25 cents per gal. in the past few weeks-and a reminder of how much we're still saving,' said Gregg Laskoski, senior petroleum analyst with GasBuddy. 'Even with the anticipated rise in retail prices to accommodate 'summer blend' gasoline regulations, and even with a 54 percent increase in crude oil from $26 to $40 for the benchmark West Texas Intermediate (WTI), the national average price of gas today remains some 45 cents lower than where we were exactly one year ago.'

GasBuddy is the premiere source for real-time local gas prices. Founded in 2000, GasBuddy.com developed as an initiative to provide consumers access to local, current gas prices. Through the GasBuddy.com website and the free GasBuddy mobile app, users can find and share gas prices with fellow drivers, saving big money at the pump.

From Patrick DeHaan