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Hurricanes slowing seasonal decline in gas prices

While gas prices dropped slightly in the past week, analysts say they remain near their peak...
While gas prices dropped slightly in the past week, analysts say they remain near their peak due to a busy hurricane season.(Associated Press (custom credit) | AP)
Published: Sep. 27, 2021 at 10:25 AM CDT
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JONESBORO, Ark. (KAIT) - While gas prices dropped slightly in the past week, analysts say they remain near their peak due to a busy hurricane season.

According to GasBuddy.com’s survey of 1,826 stations in Arkansas, the state average for a gallon of regular unleaded is $2.83.

Although prices fell 1.3 cents in the last week, they remain unchanged from a month ago and are 95.7 cents higher than this time last year.

The national average fell just 0.7 cents in the last week to $3.17/gallon.

“Average gas prices saw little change from a week ago, declining slightly. But overall, prices remained near 2021′s peak price set in early August due to Covid-19 supply and demand imbalances,” said Patrick De Haan, head of petroleum analysis for GasBuddy.

He noted that those living west of the Rockies saw any relief in prices.

De Haan attributed the delay to an active hurricane season which has prevented gas prices from their normal seasonal decline.

“While I am optimistic that we eventually will see a decline in price, the drop is not likely to be as noticeable as I had anticipated due to the above average hurricane season and as demand remains seasonally strong,” he concluded.

To find the cheapest gas prices wherever you may travel, visit the Region 8 News Pump Patrol.

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