FAYETTEVILLE, Ark. (KNWA/KFTA) — According to a press release from AAA, the Arkansas statewide gas price average has been hovering near $3.82 for 11 consecutive days, down 10 cents from the recent high on March 11.
Crude oil prices have fluctuated over the last month and closed on Wednesday at $107 per barrel. On Thursday, oil prices responded to recent news from the administration of a potential release of oil from Strategic Petroleum Reserve by falling nearly 4%.
“Until a comprehensive plan is finalized, it remains to be seen how much of an immediate impact a release from the Strategic Petroleum Reserve will have on pump prices,” said AAA Spokesperson Nick Chabarria. “It’s important to remember, crude oil is a global commodity and any attempts to substantially impact pricing would need to be completed on a global scale.”
Drivers in Arkansas are paying the 4th-lowest gas price average in the country, according to gasprices.aaa.com. The statewide gas price average in Arkansas is $3.81 for a gallon of regular unleaded fuel, according to the AAA Arkansas Weekend Gas Watch.
That price is one cent less compared to this day last week and is $1.13 more per gallon compared to this day last year. Of the major metropolitan areas surveyed in Arkansas, drivers in Texarkana are paying the most on average at $3.93, while drivers in Fort Smith are paying the least at $3.70 per gallon.
The national average price for a gallon of regular unleaded is $4.22, which is two cents less compared to this day last week and $1.35 more than the price per gallon at this same time last year.