LITTLE ROCK, Ark. – As Arkansans start their week filling up at the pump, gas prices are down 5 cents from the week before.
According to the latest data from AAA’s Gas Price Monitor, the current average price for a gallon of regular gas in Arkansas is $3.77, compared to $3.82 a week ago.
For drivers in central Arkansas, prices are slightly lower than the state average in Little Rock and Hot Springs which are both averaging $3.75 per gallon. In Pine Bluff, however, prices are currently sitting at $3.78 per gallon.
Meanwhile in the southern part of the Natural State, prices are still over $3.90, and, in a few counties, gas is averaging over $4 per gallon.
This change in gas prices comes after President Biden announced his decision to release one million barrels of oil per day for six months from the Strategic Petroleum Reserve which brought oil prices down to near $100 per barrel.
“The upward push on oil prices caused by Russia’s war in Ukraine is meeting stronger downward pressure from the planned SPR oil release and increased COVID fears in China,” Andrew Gross, AAA spokesperson said. “And lower global oil prices are reflected in falling pump prices for consumers in the U.S.”
Across the country, the national average is currently at $4.18 for a gallon of regular gas and $4.79 for a gallon of diesel.
In California, drivers are currently paying $5.85 which is down .06 cents from a week ago, and in Missouri the state average is currently $3.73 which is down .05 cents, making it the cheapest in the country.