COVID-19 surge sends gas prices sliding
JONESBORO, Ark. (KAIT) - Analysts say a continued global surge in COVID-19 cases is fueling a downward trend in gas prices.
In the last week, according to GasBuddy.com, the average price for a gallon of regular unleaded in Arkansas fell 2.4 cents to $2.83.
The national average fell 3.3 cents a gallon last week to $3.14.
Patrick De Haan, head of petroleum analysis for GasBuddy, says gasoline prices have started to slide in the past few days as oil prices have plunged.
“Excluding the plunge in gasoline prices as COVID unfolded in 2020, Sunday saw one of the largest single day declines in the national average in nearly three years,” he said.
De Haan does not expect the “good news” to end soon.
“I fully expect the national average could drop back under $3 per gallon in the next three weeks,” he added.
Unless motorists absolutely need to fill up, he suggests they wait a while.
“Fuel prices are nearly guaranteed to continue to decline in every state in the coming week,” De Haan concluded.
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