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The likely cause of the spike in gas prices is crude oil

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Little Rock, Arkansas – The AAA Arkansas Weekend Gas Watch indicates that the average statewide gas price in the Natural State for a gallon of regular unleaded fuel is $3.15.

There has been a seven-cent increase in pricing since this day last week. The price per gallon is two cents lower today than it was on this day last year.

According to survey data, commuters in the Fayetteville, Springdale, and Rogers metropolitan regions pay the highest average gas prices in the state, $3.22 per gallon.

At $3.07 per gallon, commuters in Pine Bluff are paying the lowest.

The average cost of a gallon of normal unleaded gasoline in the country is $3.51. That is six cents cheaper than the price at this time last year and four cents less than it was on this day last week.

“Drivers are likely noticing price increases at their local stations this week,” said AAA spokesperson Nick Chabarria. “As long as crude oil prices remain elevated, so too will gas prices.”

A few of the factors driving up oil prices over the course of several weeks are ongoing tensions in the Middle East, potential reductions in interest rates, and seasonal demand.

Weekly price increases have happened, but overall prices are marginally lower than they were a year ago.

Drivers in Arkansas are paying the sixth lowest average gas price in the nation, according to gasprices.aaa.com.

 

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