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Gas prices down in Arkansas but future is uncertain

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(The Center Square) — Arkansas gas prices are two cents lower than last week, but news from the Middle East makes it unclear what will happen in the next few weeks, according to AAA.

The average cost for a regular unleaded gallon of gasoline is $3.10, which is $1.25 lower than last year’s price. Drivers in Texarkana pay the highest amount on average at $3.16 a gallon, according to AAA. The cheapest gas is in on the Tennessee border in West Memphis, where prices average $3.02.

Arkansas has the fifth highest gas prices in the U.S. Mississippi continues to have the cheapest gas at $2.97 for a gallon of regular unleaded gasoline, according to AAA. The Magnolia State has the second lowest gas tax in the country at 18.79 cents a gallon, according to the American Petroleum Institute. Tennessee, Louisiana and Alabama are tied for second at $3.08 a gallon.

Saudi Arabia announced production cuts would last through August. The announcement could affect gas prices.

“The direction of retail gasoline prices for the remainder of the summer will largely depend on the impact of the global crude oil market,” AAA spokesperson Nick Chabarria said. “Additionally pump price volatility will be impacted by demand for fuel and the health of the economy.”

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