ARKANSAS, USA — The average gas price in Arkansas has risen by over 13 cents, according to a GasBuddy report released on July 1, 2024.
Arkansas's gas price now sits at an average of $3.03 per gallon. Those numbers are 3.3 cents higher per gallon than a month ago and 5.2 cents per gallon lower than a year ago, GasBuddy says.
The cheapest station in Arkansas was priced at $2.64/gallon while the most expensive was recorded at $3.80 per gallon.
However, the amount increased in the state is less than the national average. GasBuddy's report says the national average gas price rose by 5 cents in the last week.
In Arkansas, the report is based on a survey of 1,826 gas stations.
Historical gas prices in Arkansas with the national average going back ten years:
- July 1, 2023: $3.08/g (U.S. Average: $3.52/g)
- July 1, 2022: $4.36/g (U.S. Average: $4.83/g)
- July 1, 2021: $2.81/g (U.S. Average: $3.12/g)
- July 1, 2020: $1.86/g (U.S. Average: $2.18/g)
- July 1, 2019: $2.35/g (U.S. Average: $2.72/g)
- July 1, 2018: $2.57/g (U.S. Average: $2.84/g)
- July 1, 2017: $1.99/g (U.S. Average: $2.23/g)
- July 1, 2016: $2.04/g (U.S. Average: $2.27/g)
- July 1, 2015: $2.48/g (U.S. Average: $2.76/g)
- July 1, 2014: $3.46/g (U.S. Average: $3.67/g)
Neighboring areas and their current gas prices:
- Memphis: $3.07/g, up 8.9 cents per gallon from last week's $2.98/g.
- Little Rock: $2.99/g, up 11.2 cents per gallon from last week's $2.87/g.
- Shreveport: $2.84/g, down 9.0 cents per gallon from last week's $2.93/g.
"As we approach July 4 later this week, motorists have seen the national average price of gasoline inch up ever so slightly for the third straight week," said Patrick De Haan, head of petroleum analysis at GasBuddy. "While the increases have been fairly tame, with oil continuing to hold above $80 per barrel, we could continue to see the national average climb slightly. Other areas that see price cycling saw prices shoot up early in the week, but those areas are now starting to see prices fall back down."
De Haan said other unforeseen circumstances could also impact the holiday prices this year.
"For many Americans hitting the road for the July 4 holiday, prices in most areas are very comparable to what we saw last July 4," he said. "However, with Hurricane Beryl now formed in the Caribbean, we're reminded that gas prices could experience some jolts in the second half of the summer should a storm threaten refining capacity in Texas or Louisiana."
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