Average retail gasoline prices in Arkansas have fallen 1.5 cents per gallon in the past week, averaging $2.27 per gallon Sunday, March 12, according to GasBuddy's daily survey of 1,826 gas outlets in Arkansas. This compares with the national average that has fallen one cent per gallon in the last week to $2.51 per gallon, according to price website GasBuddy.com.
Including the change in gas prices in Arkansas during the past week, prices Sunday were 18.7 cents per gallon higher than the same day one year ago and are 7.6 cents per gallon lower than a month ago.The national average has decreased 5.0 cents per gallon during the last month and stands 22.0 cents per gallon higher than this day one year ago.
According to GasBuddy historical data, gasoline prices on March 12 in Arkansas have ranged widely over the last five years: $2.08 per gallon in 2017, $1.76 per gallon in 2016, $2.26 per gallon in 2015, $3.24 per gallon in 2014 and $3.52 per gallon in 2013.
Areas near Arkansas and their current gas price climate:
Memphis- $2.31 per gallon, down 2.2 cents per gallon from last week's $2.33 per gallon.
Little Rock- $2.25 per gallon, down 3.7 cents per gallon from last week's $2.29 per gallon.
Shreveport- $2.25 per gallon, up 0.8 cents per gallon from last week's $2.24 per gallon.
"Oil prices remain volatile yet several dollars off recent highs. Gasoline prices remain in somewhat of a limbo as a result, with a mixed bag at the pumps across the United States," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "Thus far, we have seen a market that's lacking solid upward movement when it usually sees exactly that. This could lend weight to oil prices being too high, but at the same time, we continue to see if any major disruptions occur at U.S. refineries to offset any devaluation in the price of oil. So far the balance is in the middle, but threats remain in the months ahead. We're still expecting a surge so motorists aren't off the hook by any means yet."