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Motorists seeing savings at the pump

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GasBuddy notes prices falling as travel season arrives

Senior Petroleum Analyst LITTLE ROCK — Arkansas gas prices have fallen 6.2 cents per gallon in the past week, averaging $2.39/gallon today, according to GasBuddy’s daily survey of 1,826 stations.

Gas prices in Arkansas are 13.7 cents per gallon lower than a month ago, yet stand 25.1 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Arkansas is priced at $2.14/gallon today while the most expensive is $2.99/gallon, a difference of 85.0 cents per gallon. The lowest price in the state today is $2.14/ gallon while the highest is $2.99/gallon, a difference of 85.0 cents per gallon.

The cheapest price in the entire country today stands at $1.97/gallon while the most expensive is $5.19/ gallon, a difference of $3.22/gallon.

The national average price of gasoline has fallen 7.1 cents per gallon in the last week, averaging $2.73/ gallon today. The national average is down 12.9 cents per gallon from a month ago, yet stands 17.8 cents per gallon lower than a year ago.

Historical gasoline prices in Arkansas and the national average going back the last five years show a good deal of fluctuation for the week of June 17.

2018: $2.64/gallon (U.S.

Average: $2.91/gallon), 2017: $2.07/gallon (U.S.

Average: $2.33/gallon), 2016: $2.11/gallon (U.S.

Average: $2.38/gallon), 2015: $2.48/gallon (U.S.

Average: $2.75/gallon), 2014: $3.37/gallon (U.S.

Average: $3.65/gallon).

Neighboring areas and their current gas prices are down as well: Memphis, Tennessee. $2.44/gallon, down 8.3 cents per gallon from last week’s $2.52/gallon.

St. Louis, Missouri. $2.36/gallon, down 5.1 cents per gallon from last week’s $2.41/gallon.

Shreveport, Louisiana – $2.28/gallon, down 1.8 cents per gallon from last week’s $2.30/gallon.

“Last week saw a feat most motorists probably thought they’d never see in June — average gasoline prices declined in nearly every state across the country with the national average now at its lowest point since early April.

The fall has come amidst a deep drop in oil prices set in to play on worries that tariffs could slow economic growth, reducing oil demand,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.

“The decline at the pump is likely to continue but may slow down in a few couple weeks as President Trump made a deal with Mexico over the weekend to avoid tariffs. With gasoline inventories also growing in most areas of the country, the transition to summer gasoline complete, motorists will continue to see prices moving lower as the summer driving season gets underway. We’re likely to see more good news at the pump than bad for the foreseeable future.”

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