Gas Prices on the Rise

Published 11/27 2013 04:15PM

Updated 11/27 2013 06:50PM

LITTLE ROCK, AR -- Gas prices are back in the $3 range after weeks of falling under that.

The average price in Arkansas for regular gas is $3.07, which is much lower than the national average of $3.29.

"The inconsistency in the gas prices makes it kinda hard to buy gas, and I don't have that much money coming into my bank account," said UCA junior Kelton Ray.

The bulk of the money we pay for gasoline goes to crude oil, which is based on speculation by industry analysts.

Gas stations don't make much profit, especially when customers use debit and credit cards to pay.

"In 2011, the convenience store industry paid more in fees, like $11 billion in fees, and made only $8 billion in gasoline profits," said Steve Ferren, executive director of the Arkansas Oil Marketers Association.

Many gas stations reward cash-paying customers with a discount at the pump.

Copyright 2016 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

  • KARK 4 News
  • KARK 4 News
  • KARK 4 News Mobile App
  • Arkansas Storm Team Mobile App