FAYETTEVILLE, Ark. (KNWA/KFTA) – Gas prices continue to be on the rise here in Arkansas, and many of you are probably wondering where it will end.
To find out how high prices could go, we connected with a national expert Denton Cinquegrana, the chief oil analyst for OPIS. He said it might be a little longer before anything levels off.
“Right now, the national average is $3.16, which is a multi-year high, and in Arkansas is about $2.86. Which again would compare to some of the high levels over the last couple of years,” said Cinquegrana.
He said what is causing this spike is demand continuing to be down; however, that is not all playing into it.
“One of the biggest things that continue to be an issue is the driver shortage, and it’s not just something you guys are seeing; it’s something you see throughout the country,” said Cinquegrana.
To see how the rise in gas prices has affected those who depend on it for a living, we spoke to one local Uber Eats driver.
“I mean, it is not fun. I also drive all the way from Fort Smith up to Fayetteville, so it does hit a little bit harder,” said James Whitley.
But, even with the rise, Whitley said he’s been able to keep the bills paid.
“It doesn’t affect me enough, and I try not to let anything like that bother me,” said Whitley.
Cinquegrana said he does not expect prices to start to level off immediately, and it’s tough to predict with something as unpredictable as a pandemic. However, he does expect prices to level off in the coming months.