LITTLE ROCK, Ark. – Arkansas drivers saw a jump at the pump this week as gas prices continue to climb in the new year.
AAA reports that Arkansas now has an average of $3.06 for a gallon of regular gas, up from last week’s $2.95 average. A month ago Arkansas averaged $2.70 a gallon.
The increase is due to increased crude oil prices over the past few days. AAA spokesperson Nick Chabarria attributed the spike in price to increased crude oil prices over the next few days.
“Pump prices have been on an upward swing as crude oil prices rise,” Chabarria said. “Crude oil accounts for about 60% of the cost that goes into each gallon of gasoline.”
Gas in the Little Rock-North Little Rock metro is slightly below the state average at $3.03 per gallon, up from last week’s $2.96 average. Pine Bluff is also at $3.03 after $2.97 last week, while Hot Springs has a $3.01 average.
Van Buren County has the lowest average in the state at $2.94. Calhoun County in the state’s south is the highest average at $3.30.
All of Arkansas is below the national average of $3.38 per gallon, led by California at $4.40 per gallon with Texas the lowest in the country at $2.99 per gallon. Arkansas fits in as the sixth lowest gas prices in the county, according to AAA.
AAA reports that the hike in crude prices driving the price climb is from the market’s expectation of higher demand from China as that country eases its COVID-19 restrictions.