LITTLE ROCK, Ark – Drivers should expect to see a climb in gas prices as the production of oil is cut.
As of Thursday, the statewide average in Arkansas is $3.31 for a gallon of regular unleaded fuel, 10 cents more than a week ago.
This increase in gas prices is not just seen in Arkansas. The national price per gallon has been climbing since mid-September. This week the national average for a gallon of gas is currently $3.87, which is a nine cent increase from last week.
Experts attribute the increase in gas prices to a spike in crude oil. AAA spokesperson Nick Chabarria said the jump in crude oil is the result of tight supplies due to refinery issues on the West Coast and Midwest, tropical storms and an increase in national demand.
An announcement by the Organization of the Petroleum Exporting Countries is also spiking prices. On Wednesday, OPEC+ announced a cut of crude oil output by two million barrels.
Analyst do not know how long the price of gas will increase.
“It’s too early to determine how strong of an impact the production cuts will have on pump prices,” AAA spokesperson Chabarria said.
Mississippi currently has the lowest state average at $3.15, while California drivers pay the highest average at $6.42.
Central Arkansas cities are seeing higher costs at the pump.
Little Rock-North Little Rock metro’s total price average Thursday is $3.22, which is a nine cent increase from last week, while Pine Bluff drivers are paying 13 cents more per gallon at $3.20. Hot Springs drivers are paying $3.18 per gallon, a 16 cent climb from last week.
To see the latest fuel prices near you, head to our Gas Tracker page.