Fuel prices rise amid geopolitical turmoil

by Jeff Della Rosa ([email protected]) 464 views 

Geopolitical tensions are contributing to higher fuel prices, and they’re likely to remain “for a while,” according to the AAA. This week, the average price for regular gasoline rose to $3 per gallon in Arkansas.

That price is two cents more compared to this day last week and 82 cents more per gallon compared to this day last year, according to the AAA. Motorists in the Little Rock metro area are paying the least at $2.95 per gallon, while those in Texarkana are paying the most at $3.08 per gallon.

Nationwide, the price has risen three cents to $3.35 per gallon from last week and is 94 cents higher than this time last year, according to AAA.

“With tensions escalated between Ukraine and Russia and demand for gasoline climbing, market prices for crude oil have been moving upward,” AAA spokesman Nick Chabarria said. “While gas price trends can sometimes be unpredictable, the current market environment suggests higher pump prices could stick around for a while.”

Higher crude oil prices are expected to lead to higher fuel prices. Compared to the previous week, fuel demand rose while regional gasoline supplies remained flat, according to the U.S. Energy Information Administration.

Arkansas has the third-lowest average fuel price in the United States, according to AAA. It’s only lower in Mississippi and Kentucky, both at $2.99 per gallon.

Following are some AAA tips to save on fuel:

  • Maintain properly inflated tires
  • Complete recommended vehicle maintenance
  • Drive the speed limit and avoid hard accelerations
  • Use cruise control on the highway to maintain a constant speed
  • Refrain from extended idling to warm engine