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Arkansas gas prices reverse downward trend

After weeks of trickling down, gas prices made a U-turn last week and shot up five cents.
After weeks of trickling down, gas prices made a U-turn last week and shot up five cents.(Source: MGN)
Published: Apr. 25, 2022 at 8:39 AM CDT
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JONESBORO, Ark. (KAIT) - After weeks of trickling down, gas prices made a U-turn last week and shot up five cents.

According to GasBuddy.com’s daily survey of Arkansas’s 1,826 stations, the average price for a gallon of regular unleaded rose 5.3 cents to $3.72. That’s 8.6 cents more than motorists paid a month ago and $1.05 higher than last year.

The national average rose 4.4 cents to $4.11 per gallon.

It’s the first time in more than a month that the national average has risen, according to Patrick De Haan, head of petroleum analysis at GasBuddy.com.

“Primarily, this was due to oil prices that had jumped the prior week, pushing up the price that stations pay for fuel and thus causing them to raise prices,” he said.

Following France’s recent presidential election, De Haan warned the European Union “could pursue harsher sanctions,” which could cause oil prices to rise.

“In addition, U.S. oil inventories continue to decline, putting additional pressure on prices as the nation’s SPR continues to drain and Russia’s war on Ukraine remains ongoing,” he added. “The global imbalance between supply and demand that led to these higher prices continues for the time being.”

To find the cheapest gas available, visit the Region 8 Pump Patrol.

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