LITTLE ROCK, Ark. – The team at AAA says the average cost of a gallon of gasoline in Arkansas has remained stable this week but warned crude oil prices could soar due to the situation in Ukraine.
Arkansas drivers are still paying $3.20 per gallon on average, unchanged from the previous week but 79 cents more than this same time in 2021.
The price around the Little Rock metro remained at $3.16, while Hot Springs is down to $3.14. The Texarkana area is seeing the highest prices in the Natural State at $3.35.
Drivers in Arkansas can be happy to know they are paying the lowest gas price in the country. Across the United States, drivers saw gas prices climb by two cents from the previous week to $3.54, which is up 88 cents from the previous year. California continues to see the highest prices in the U.S. at $4.75.
AAA spokesperson Nick Chabarria noted that the conflict between Ukraine and Russia has sent oil futures soaring to nearly $100 per barrel, a price not seen since 2014.
Combine that with a seasonal demand increase due to spring travel and drivers could soon be feeling the squeeze.
“Recent geopolitical unrest and supply issues have pushed crude oil to its highest price in seven years,” Chabarria said. “Drivers can expect to pay more at the pump as a result as the price of crude oil accounts for 50 to 60% of retail gasoline prices.”
Here are a few tips provided by the AAA on how to save money on fuel:
- Make sure your tires are properly maintained and inflated to the correct level
- Avoid extended idling to warm up the engine, even in colder temperatures
- Remove unnecessary and bulky items from your car
- Minimize your use of air conditioning
- Slow down and drive the speed limit