Arkansas gas prices jump 23 cents in one week, AAA reports

JONESBORO, Ark. (KAIT) - Arkansas motorists are paying an average of 23 more cents a gallon on gasoline than they did a week ago.

AAA reported Thursday that the average price of regular unleaded in the state is $3.80 a gallon. The national average price of gasoline rose 27 cents last week to $4.30 a gallon.

The increase comes as crude oil prices surge above $100 per barrel as uncertainty in the Strait of Hormuz continues, which AAA said is adding pressure to global oil markets and pushing up pump prices to their highest levels since 2022.

Market pressures

“Drivers had been seeing some minor relief at the pump, but that trend has quickly reversed as crude oil prices climb and uncertainty continues around the Strait of Hormuz,” said Nick Chabarria, spokesperson for AAA. “Because crude oil is the main driver of gasoline prices, continued volatility in the global oil market could keep upward pressure on pump prices in the days ahead.”

Data from the Energy Information Administration showed gasoline demand increased last week from 9.05 million barrels per day to 9.10 million. Meanwhile, gasoline production decreased to an average of 9.8 million barrels per day.

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