JONESBORO, Ark. (KAIT) - Despite a slight decrease in prices last week, analysts say motorists should expect to see the demand for gasoline rise with the warmer temperatures.
According to GasBuddy.com’s daily survey of 1,826 station in Arkansas, gas prices fell 1.7 cents in the past week to an average of $2.67 per gallon.
That’s still 12.5 cents higher than a month ago and $1.02 higher than last year.
The national average fell 0.4 cents to an average of $2.86/gallon.
“Last week was a mixed bag for consumers at the pump as gas prices in half of states rose, while the other half saw declines,” said Patrick De Haan, head of petroleum analysis for GasBuddy.
He said oil prices have shown signs of strength in the last few trading sessions after OPEC agreed to raise oil production in May.
Meanwhile, De Haan said gasoline demand rose in the U.S. for the sixth straight week as consumers hit the road for Easter.
“With demand growth likely to remain robust, we may see a second attempt at a run at a national average of $3 per gallon in the months ahead,” he said. “While the last few weeks have seen gas prices hold mostly steady, it’s not likely to last forever, especially as Americans increasingly get outside as warmer temperatures return.”
Whether you’re in town or on the other side of the country, to find the cheapest gas prices in your area visit the Region 8 News Pump Patrol.