LITTLE ROCK, Ark. – Good news for Arkansas drivers as gas prices continue to fall, now among the lowest in the country.
According to AAA on Tuesday, the $3.25 per-gallon average gas price in Arkansas ties it with Texas as the lowest price in the country. This is 1 cent down from Monday’s average and 9 cents down from the average price a week ago.
Sevier and Miller counties are tied for the lowest average in Southwest Arkansas at $2.60 a gallon by AAA calculations. Howard County is above the average at $3.60 per gallon. Lafayette County also sits above the $3.25 average at $3.45 per gallon.
Besides proximity to Gulf Coast distribution and other oil refineries, Don Redman with AAA attributes the drop to a combination of factors, including lower oil prices coupled with lower demand and a quiet hurricane season.
“The biggest reason we’re seeing for the decrease in the price for gasoline has everything to do with the decrease in the price of crude oil, it’s down another 5% today, I think it’s about $82 a barrel, this is a signaling that the world economy may be softening a bit I think that has some economists concerned as well as oil-producing nations,” Redman said.
The record state average for gasoline was $4.54 on June 14.