Thu, Jan 12, 2023 4:45 PM
By Kim Jarrett, The Center Square
The average cost of a gallon of regular unleaded gas in Arkansas dropped a penny this week to $2.95 a gallon, according to AAA.
The price is two cents higher than last year.
“Weaker demand for fuel, along with slightly cheaper crude oil prices, are helping reverse the recent upward trend in what drivers are paying at the gas pump,” said AAA spokesperson Nick Chabarria.
Artic weather put a freeze on oil production in the Midwest and Gulf Coast last month, according to AAA. The Gulf Coast increased refining input by more than 8% once closed refineries reopened.
The cheapest gas in Arkansas is in the Fort Smith region, where motorists pay $2.90 on average for a regular unleaded gallon of gas. The highest price is in the Texarkana region at $3.00 a gallon.
National gas prices also dropped a penny to $3.27. The price is three cents less than the same time last year.
California continues to lead the nation in gas prices. A gallon of regular unleaded gas in the Golden State is $4.42.
Two of Arkansas' neighboring states have the cheapest gas in the country. A gallon of regular unleaded gas costs $2.85 in Texas and $2,88 in Mississippi.