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Analyst: Don’t expect any price drops at the pump

Although prices in the Natural State are 1.4 cents lower than a month ago, they remain 95.5...
Although prices in the Natural State are 1.4 cents lower than a month ago, they remain 95.5 cents higher than this time last year.(Pablo)
Published: Oct. 4, 2021 at 11:51 AM CDT
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JONESBORO, Ark. (KAIT) - Despite a minor decline, one analyst says gas prices remain near their 2021 highs.

The average price of regular unleaded gasoline in Arkansas fell 0.7 cents a gallon to $2.82, according to GasBuddy.com.

Although prices are 1.4 cents lower than a month ago, they remain 95.5 cents higher than this time last year.

The national average remained unchanged, averaging $3.18 a gallon. That is $1.01 more than motorists paid in 2020.

“We’ve seen very little overall movement in gas prices over the last week with prices remaining near their 2021 highs as crude oil prices remain well above $70 on supply concerns and strong global demand,” said Patrick De Haan, head of petroleum analysis for GasBuddy.

He added that consumers should expect to see prices holding near these levels in the coming weeks.

“With energy in high demand ahead of the winter heating season and a surge in global demand due to COVID-induced imbalances, we’re not likely to see a meaningful decline at the pump any time soon,” De Haan concluded.

To find the cheapest gas wherever your travels take you, visit the Region 8 News Pump Patrol.

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