Weekly analysis of gas price trends in Pine Bluff

Pine Bluff, Arkansas – Gas prices have witnessed a significant surge in recent weeks, closely mirroring the spike in oil prices. As it stands, drivers are paying an extra 10 cents per gallon when compared to just a week ago, and a staggering 30 cents more than last month’s prices. To give a clear picture, according to AAA, the average cost for a gallon of regular gas was pinned at $3.82 on August 8.

But it’s not just the national average that’s causing concern. An analysis conducted by Stacker using data from AAA shows how gas prices in the Pine Bluff, AR metro area are also affected. As of now, the current gas price in Pine Bluff stands at $3.46, slightly below the Arkansas average of $3.49. This represents a weekly increase of 0.6% or $0.02. Looking back over the year, prices have reduced by 8.1%, equating to a decrease of $0.31. The record high for the area was noted on June 15, 2022, at a whopping $4.53.

A Ray of Hope Amidst the Surge

While these rising costs are undoubtedly a burden for many, Patrick De Haan, an analyst at GasBuddy, offers a silver lining. In a recent statement, De Haan mentioned, “The pace of increases has started to slow down over the last few days, and for now, appears to have hit a peak over the weekend and is beginning to gently fall.” However, he also cautioned that the looming hurricane season, running from June 1 to November 30, could potentially disrupt this trend and lead to even higher prices.

How Does Pine Bluff Compare?

On a broader scale, Pine Bluff’s gas prices seem moderate when you consider the rates in other metro areas. San Luis Obispo-Atascadero-Paso Robles, CA tops the chart with the most expensive gas at $5.33, followed closely by Lihue (Kauai), HI at $5.26 and Los Angeles-Long Beach, CA at $5.16. On the flip side, metros like Henderson, KY offer the least expensive gas at $3.16, with Monroe, LA, and San Angelo, TX both at $3.28.

To sum it up, while the trend of rising gas prices seems to be slowing down, external factors like the hurricane season could still play a pivotal role in future price determinations. As always, drivers should stay informed and strategize their fuel needs accordingly.