Gasoline prices across Arkansas fell by an average of 11.2 cents per gallon in the past week, bringing the statewide average to $3.57 per gallon, according to a survey conducted by GasBuddy across 1,826 stations. Despite the drop, prices in Arkansas remain 13.3 cents per gallon higher than a month ago and 81.5 cents per gallon higher than this time last year.
The national average price for gasoline also declined, decreasing 10.7 cents per gallon over the past week to reach $3.94 per gallon. Meanwhile, the national average price for diesel dropped 5.1 cents to $5.27 per gallon.
Among Arkansas stations surveyed, the lowest recorded price was $3.07 per gallon in Jonesboro, while the highest was $4.59 per gallon, a difference of $1.52. Locally, prices in north central Arkansas reflected narrower ranges. In Baxter County, fuel prices were reported between $3.61 and $3.65 per gallon. Neighboring Marion County saw prices between $3.69 and $3.79, while Fulton County stations ranged from $3.65 to $3.69 per gallon. Stone County recorded prices between $3.71 and $3.83, and Boone County stations showed a range of $3.69 to $3.84 per gallon. Insufficient data was available for Izard, Searcy, and Newton counties.
Patrick De Haan, head of petroleum analysis at GasBuddy, noted that average gasoline prices decreased in 47 states last week, while diesel prices fell in 39 states. However, he cautioned that geopolitical factors, including ongoing tensions in the Strait of Hormuz and Ukrainian attacks on Russian oil refineries, could lead to price surges in the near future. De Haan highlighted that any disruptions to the Strait could quickly reverse the downward trend in fuel prices.
Historical data from GasBuddy shows that Arkansas' gas prices have risen considerably compared to prior years. On August 10 of last year, the statewide average was $2.87 per gallon, while the national average was $3.18. By contrast, the current national average is 85.6 cents higher than a year ago.
Drivers are advised to monitor local prices, as fluctuations remain possible in light of global oil market uncertainties.