Chris Holloway with our content partner, KUAR-FM 89 News, reports that Arkansas gasoline prices have fallen by more than 30 cents during the past month.
Once headed for $4 a gallon, prices have tumbled recently to under $3.50.
From KUAR-FM 89 News:
AAA Auto Club Spokesman Mike Right says there are several reasons for the decrease in price, including less tension in the middle east.
“There’s a lot of tensions associated with what’s going on in the Middle East that’s been moderated in recent weeks, and I think that is one of the major factors that we’re seeing causing the price of crude to go down and consequently the price of gasoline to go down as well,” says Right.
Right says even though gasoline is in highest demand in the summer there’s no guarantee prices will go back up.
“It’s not always what you would expect it to be,” says Right. “For example you would think the highest prices one would pay for a product is when it’s in its highest demand, and in terms of gasoline that would be during the months of July and August. But if you look at the highest prices paid during any month of the year over the last decade or so, it ranges anywhere from April to November. So the fact that the high-demand season is approaching does not necessarily mean that we will be paying higher gasoline prices than we’ve paid in the recent past.”
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