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Arkansas gas prices remain unchanged

Published: Jul. 19, 2021 at 9:22 AM CDT
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JONESBORO, Ark. (KAIT) - With gas prices remaining unchanged, one analyst suggests that the national average may have peaked.

According to GasBuddy.com’s daily survey of 1,826 stations in Arkansas, the average cost for a gallon of gas remains at $2.84.

The cheapest gas in the state is selling at $2.63/gallon, while the most expensive is going for $3.29.

While Arkansas prices remain unchanged, the national average rose 1.3 cents a gallon in the last week to $3.16.

Patrick De Haan, head of petroleum analysis for GasBuddy, says prices “have been a bit sideways.”

“Overall, the national average hasn’t seen much meaningful direction as oil prices remain under their early-July levels thus far thanks to OPEC coming to an agreement on production over the weekend,” he said.

De Haan said OPEC plans to raise oil production by 400,000 bpd each month until 2022, which will return it to pre-COVID levels.

“It’s a positive development in light of U.S. gasoline demand which last week rose nearly 2 percent, which should act as a loose ceiling on the price of oil,” De Haan said. “And could mean we’re even closer to seeing a peak in the national average if we haven’t already.”

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