Analysts warn gas prices could rise in coming days

Analysts warn gas prices could rise in coming days
After weeks of significant drops, the price of gasoline continues to trickle down. (Source: WVIR)

JONESBORO, Ark. (KAIT) - After weeks of significant drops, the price of gasoline continues to trickle down. But analysts warn, that could change in coming days.

GasBuddy.com reports the cost of a gallon of regular unleaded fell 0.4 cents in the past week to an average price of $2.13.

Gas is selling for $1.89 at the cheapest station in the state, and $2.99 at the most expensive. That’s a $1.10/g difference.

Meanwhile, the national average rose 0.7 cents a gallon in the last week to $2.43/g.

Patrick DeHaan, head of petroleum analysis for GasBuddy, said oil prices rebounded on word that OPEC members were considering cutting global production to offset the decline in demand brought on by the coronavirus.

“Unless there’s renewed or new concerns with the spread of the coronavirus, we may have seen the deepest discounted prices behind us,” he said. “It wouldn’t be a bad time to fill up to hedge the chances of prices rising in the coming days.”

To find the cheapest gas in your area, visit the Region 8 News Pump Patrol page.

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