Small uptick in average statewide gas prices

Small uptick in average statewide gas prices

Arkansas still below $ 1.50 per gallon

Senior Petroleum Analyst Average retail gasoline prices in Arkansas have risen 1.6 cents per gallon in the past week, averaging $1.49/gallon yesterday, according to GasBuddy's daily survey of 1,826 gas outlets in Arkansas. This compares with the national average that has increased 1.9 cents per gallon in the last week to $1.71/gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Arkansas during the past week, prices yesterday were 64.4 cents per gallon lower than the same day one year ago and are 12.7 cents per gallon lower than a month ago.

The national average has decreased 13.1 cents per gallon during the last month and stands 58.4 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on February 22 in Arkansas have ranged widely over the last five years: $2.13/gallon in 2015, $3.20/gallon in 2014, $3.64/gallon in 2013, $3.44/gallon in 2012 and $3.04/gallon in 2011.

Areas nearby Arkansas and their current gas price climate: Memphis – $1.55/gallon, up 1 cent per gallon from last week's $1.54/gallon.

Little Rock – $1.50/gallon, down 1.7 cents per gallon from last week's $1.51/gallon.

Shreveport – $1.52/gallon, up 1.6 cents per gallon from last week's $1.50/gallon.

“Many motorists in the Midwest saw an ugly surprise at the gas pumps last week, as prices spiked as high as 23 cents per gallon in one week’s time in places,' said Will Speer, a GasBuddy senior petroleum analyst. 'The spike occurred on the back of news that Midwest refineries were reducing production rates due to poor economics. The rest of the U.S. enjoyed another week of declining gas prices.

The largest decline in retail gas prices occurred in Southern California, as the wholesale gasoline price fell to the cheapest in the country. Expect West Coast motorists to reap the benefits of these low wholesale prices at the pump in the upcoming week,' he added.

From Patrick DeHaan