Gas prices stay low for summer travelers

Gas prices stay low for summer travelers

Motorists enjoying savings at the pump

Senior Petroleum Analyst Average retail gasoline prices in Arkansas have fallen 2.5 cents per gallon in the past week, averaging $2.03/gallon yesterday, according to GasBuddy’s daily survey of 1,826 gas outlets in Arkansas. This compares with the national average that has fallen 3.0 cents per gallon in the last week to $2.26/gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Arkansas during the past week, prices yesterday were 43.9 cents per gallon lower than the same day one year ago and are 8.3 cents per gallon lower than a month ago. The national average has decreased 10.0 cents per gallon during the last month and stands 50.7 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on July 5 in Arkansas have ranged widely over the last five years: $2.47/gallon in 2015, $3.43/gallon in 2014, $3.26/gallon in 2013, $3.08/gallon in 2012 and $3.38/gallon in 2011.

Areas nearby Arkansas and their current gas price climate: Memphis – $2.10/gallon, down 2.2 cents per gallon from last week’s $2.13/gallon.

Little Rock – $2.04/gallon, down 2.5 cents per gallon from last week’s $2.07/gallon.

Shreveport – $2.04/gallon, down 3.0 cents per gallon from last week’s $2.07/gallon.

“Yesterday’s gas prices ended just as GasBuddy predicted a week ago: $2.27 per gallon nationally,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “While prices have come down, we now head to the time of year when hurricane season enters the picture. In the last couple of years we have seen minimal to no disruption as hurricane season largely went by with no major storms that hit land. Should we see a major hurricane enter the Gulf, gas prices may react. For the week ahead, expect much of the country to see prices continue to trickle lower while the Great Lakes states may see their first price increase in weeks as stations have undercut each other to the point where they begin losing money,” DeHaan said.

By Will Speer