Gas prices in Arkansas setting new record at $4.48

Little Rock, Arkansas – According to AAA, the average gasoline price in Arkansas is now $4.48 per gallon for regular, up from Tuesday’s then record-setting $4.45 price. Diesel average price in the Natural State is $5.28 per gallon, up from Tuesday’s $5.26 but still below the record price of $5.30 set May 11.

Arkansas still places below the national average of $4.96 per gallon for gasoline, or $5.72 for diesel. Both are new records. In California, the average is $6.39, while Arkansas’ $4.48 is among the lowest in the nation average, bested only by Georgia’s $4.38.

In central Arkansas, Little Rock is averaging $4.43 and $5.20 for diesel, with Pine Bluff at $4.50 and $5.25 diesel. Hot Springs is $4.46 and $5.27 diesel. In all cases these are highest-ever for gasoline, and in Hot Spring’s case, highest-ever for diesel. Little Rock and Pine Bluff both have diesel below May record prices.

According to the World Bank, rising fuel prices, coupled with additional factors, will bring the global economy into a period of “stagflation,” a combination of inflation and recession, at least through 2024.

In the late 50s into the 60s, car makers would often offer a dual carburetor as part of a performance option package. Cars thus equipped would often get gas mileage at or below 10 mpg.