(The Center Square) – Arkansas gas prices dropped three cents this week to $3.06, down from $3.48 a year ago, according to AAA.
The price is 39 cents cheaper than the national average. It is also down from one year ago when Arkansans were paying an average of $3.48. A gallon of diesel in Arkansas costs an average of $3.84, but that is down three cents from last week and 39 cents from one year ago.
Some counties in Arkansas have gas prices today as low as $2.88. The highest prices today are found in the northernmost counties, where drivers are paying as much as $3.31 for a gallon of regular unleaded.
Still, Arkansans are paying the 4th lowest gas prices in the United States overall. Mississippi, Tennessee, and Louisiana have cheaper prices. Texas, Oklahoma, Alabama, South Carolina, Missouri, and Kansas round out the top 10 least expensive state gas price averages.
The record price in Arkansas was in June 2022, when the state average was $4.54 per gallon of regular unleaded.
Nationwide, demand for gasoline is down 3.6% from August 2023, according to the Energy Information Association.
Crude prices are also declining, hitting a six-month low this week when falling below $73 per barrel, according to AAA.
“Decreased demand and renewed recession concerns are putting downward pressure on gas prices,” said AAA spokesperson Nick Chabarria,
Tropical Storm Debby also caused concern about Gulf Coast oil production and refining, but AAA said that the threat is over for that particular region.
“However, escalating tensions in the Middle East and global crude oil production cuts will likely keep prices from falling much lower in the near term,” said Chabarria.
