No need for a ‘staycation’ with gas prices this low

No need for a ‘staycation’ with gas prices this low

Fuel rates trickling down as summer heats up LITTLE ROCK — Average retail gasoline prices in Arkansas have fallen 2.5 cents per gallon in the past week, averaging $2.08/gallon yesterday, according to GasBuddy's daily survey of 1,826 gas outlets in Arkansas. This compares with the national average that has fallen 4.0 cents per gallon in the last week to $2.33/gallon, according to gasoline price website

Including the change in gas prices in Arkansas during the past week, prices yesterday were 2.8 cents per gallon lower than the same day one year ago and are unchanged versus a month ago. The national average has decreased 0.7 cents per gallon during the last month and stands 5.8 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on June 12 in Arkansas have ranged widely over the last five years: $2.11/gallon in 2016, $2.52/gallon in 2015, $3.38/gallon in 2014, $3.35/gallon in 2013 and $3.23/gallon in 2012.

Areas near Arkansas and their current gas price climate: Memphis – $2.10/gallon, down 2.8 cents per gallon from last week's $2.13/gallon.

St. Louis – $2.06/gallon, down 2.9 cents per gallon from last week's $2.09/gallon.

Shreveport – $2.06/gallon, down 2.5 cents per gallon from last week's $2.08/gallon.

'While the national average fell 5 cents per gallon in the last week, the bigger story is that 47 states saw average gas prices move lower in the last week, so this isn't just a here and there trend, it's almost everywhere,' said Patrick DeHaan, senior petroleum analyst for GasBuddy.

'Oil prices remain near 6month lows as fundamentals remain weak- supply remains high even in light of production cuts from OPEC while demand has been mild, not remarkable. Today's national average price for gasoline is the lowest for mid-June since 2005- not an easy record to attain. By all measures, gasoline prices this year have been exactly what most motorists seem to love — stable and cheap, two words that rarely have been synonymous with gas prices over the last decade. While many motorists are lured in to that false sense of security, smart motorists continue to shop around and find the best deal as the gas price spread between stations hits record levels, providing enough savings to pay for a snack or food item inside the station,' DeHaan said.

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From Gas Buddy