Gas prices across Arkansas increased this week as renewed tensions in the Middle East continued to drive higher crude oil prices, according to AAA.
As of Thursday, the statewide average price for a gallon of regular unleaded gasoline was $3.47, an increase of 5 cents from a week earlier and 67 cents higher than the same time last year.
Among Arkansas metropolitan areas, the Fayetteville-Springdale-Rogers region reported the state’s highest average price at $3.49 per gallon, while the Texarkana area had the lowest average at $3.41.
In central and southeast Arkansas, Hot Springs posted an average price of $3.46 per gallon, followed closely by Pine Bluff at $3.45. The Little Rock-North Little Rock metropolitan area reported an average of $3.44 per gallon.
County-level averages also varied across the state. Jefferson County was among the areas with higher average prices, while Stone County reported one of the state’s lowest averages.
Nationally, the average price for regular unleaded gasoline reached $3.85 per gallon. Hawaii continued to have the highest average at $5.46 per gallon, while Indiana reported the nation’s lowest average at $3.21.
The increase at the pump comes as oil markets react to renewed conflict involving Iran. U.S. benchmark West Texas Intermediate crude oil rose $3.08 during Wednesday’s regular trading session to close at $73.52 per barrel.
According to the U.S. Energy Information Administration, U.S. crude oil inventories increased by 3 million barrels from the previous week. Despite the larger supply, rising geopolitical tensions have continued to put upward pressure on crude oil prices, which are a major factor in determining retail gasoline prices.
As long as uncertainty remains in global oil markets, Arkansas motorists could continue to see higher prices at the pump in the coming weeks.
