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Analyst: Buckle up for end-of-summer gas prices

While motorists in Arkansas and nationwide enjoy cheaper gas prices this week, one analyst says...
While motorists in Arkansas and nationwide enjoy cheaper gas prices this week, one analyst says they should buckle up for what could be a bumpy ride ahead.(AP)
Published: Jul. 26, 2021 at 10:02 AM CDT
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JONESBORO, Ark. (KAIT) - While motorists in Arkansas and nationwide enjoy cheaper gas prices this week, one analyst says they should buckle up for what could be a bumpy ride ahead.

According to GasBuddy.com’s daily survey of 1,826 stations in the Natural State, gasoline prices fell 1.5 cents per gallon last week to an average of $2.83.

The national average fell 2.9 cents a gallon to $3.14/gallon.

Despite the drops, motorists from coast to coast are shelling out 4 cents a gallon more than they did a month ago.

Patrick De Haan, head of petroleum analysis at GasBuddy, says oil prices are struggling “under the weight of a rise in COVID cases” brought on by the spread of the delta variant.

“We aren’t yet in the clear,” he warned Monday, noting that gasoline demand in the last week surged to a new 2021 high.

“This shows that motorists aren’t slowing their appetite for hitting the road just yet,” he said. “That could further boost prices should demand remain hot.”

De Haan urged consumers to “enjoy the brief respite at the pump and buckle up for what might be a bumpy finish to summer.”

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