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Gas prices dropping; Russellville has some of the lowest Wednesday, Sep 13, 2006 By Rob Moritz Arkansas News Bureau LITTLE ROCK - Gas prices continued to drop around Arkansas on Tuesday, and Russellville had some of the lowest prices in the state. The average price of a gallon of unleaded regular gasoline in the state was $2.50, down 42 cents from a month ago, said Mike Right with the AAA. A Web site which logs the cheapest and the most expensive locations to buy gasoline in the state showed the Flying J, a struck stop that includes a service station, convenience store and restaurants on Interstate 40 in Russellville, with the lowest priced gas at $2.22 a gallon. In fact, of the 15 service stations list on the Web site with the lowest prices, nine were in Russellville. Of the 15 stations with the highest prices, nine were in Northwest Arkansas, including three in Tontitown and two in Springdale. Right said Tuesday he didn't know specifically why certain areas of the state would have the cheapest or most expensive gas. He speculated that Russellville had the lowest because of a price war among the stations, lower transportation costs because the stations are closer to the gas distribution source, or that the cost of doing business is simply lower there than elsewhere. A man who answered the manager's office at the Flying J said his company always tries to have the lowest prices in town. The man declined to give his named. Russellville Mayor Raye Turner and Russellville Area Chamber of Commerce President/CEO Jeff Pipkin could not be reached for comment Tuesday. Ann Hines, executive vice president of the Arkansas Oil Marketers Association, also said Tuesday that price wars are generally the reason for lower gasoline prices in a certain region of the state over others, but she said she didn't know about what's happening in Russellville. "Isn't it great?" she said. Tom Parker with the Arkansas Petroleum Council said falling gasoline prices are directly related to the cost of crude oil, which has been steadily dropping. "Obviously the price of crude oil is what is driving the lower prices," Parker said. "Why one station may have it less than another, I don't know. It could be less overhead or it could be less transportation costs." Parker said a barrel of crude oil was selling for $65.61 Tuesday, the sixth day in a row the price had dropped and the lowest price for a barrel of crude since March 27. Along with the drop in crude prices, the supply of gasoline is up because motorists with children back in school and vacations completed, just aren't driving as much, Parker said. Prices of oil rose drastically last year because of the continued uncertainty in the Middle East and the two hurricanes striking the Gulf Coast, Parker said. The average cost of a gallon of unleaded gasoline a year ago was $2.89, Right said. ----- On the Net: www.arkansasgasprices.com |
