LITTLE ROCK, Ark. – Arkansas gas prices are dropping quickly and reaching levels not seen since the start of 2022.

AAA reported on Thursday that the average price for a gallon of regular in Arkansas is $2.98, a 10-cent  drop from last week’s average and 4 cents below the average price a year ago.

In the AAA report for January 27 of this year, gas averaged $3 per gallon in Arkansas, having climbed throughout the month as tension between Ukraine and Russia intensified. By mid-February gas was up to $3.20 per gallon in the state, then $3.34 into March after Russia’s Feb. 24 invasion of Ukraine.

The highest price average for Arkansas this year was in mid-June at $4.54 per gallon.

Greene County has the lowest price in the state, with an average of $2.70, followed closely by Hot Spring County at $2.75. Montgomery County is the highest in the state at $3.37.

Around central Arkansas, Little Rock is below the state average at $2.91, Pine Bluff is 1 cent above the average at $2.99 and Hot Springs comes in at $2.94.

Arkansas has the third lowest gas price in the county and remains below the national average of $3.47.  The highest price in the country is in California at $4.90 per gallon. Texas is the lowest in the country at $2.84.

AAA attributes the price drop to stabilized crude oil prices but cautions that the price drop may not last.

“Arkansas gas prices are now cheaper than they were this time last year.” AAA spokesperson Nick Chabarria said. “Drivers should be aware there are some indicators that oil prices may rebound, and global gasoline demand may increase in the near future which could reverse the current downward price trend.”

For the latest prices near you, head to our Gas Tracker page.