The average price of regular gasoline in Arkansas has dropped about 10 cents a gallon in the past month, and analysts see another 10-cent drop in the next 30 days, if not more.

There were scattered reports of regular gasoline dipping below $3 around Arkansas on Friday. The lowest at one point was $2.78 at a station in Fort Smith, according to gasbuddy.com. The lowest in the Little Rock area was $2.90.

Missouri led the nation in lower prices Friday, with a $2.99 average, the only state below $3, according to AAA.

Arkansas’ average was $3.107 Friday, AAA said.

James Williams, an analyst with WTRG Economics of London, Ark., says he could see the price drop another dime, or maybe 20 cents, in the next month.

Phil Flynn, an energy analyst with Price Futures Group in Chicago, is even more optimistic. He said he thinks the national average, which was $3.315 on Friday, could be“very close to $3.”

A major drop in the price of gasoline gives consumers a big psychological lift, which consequently can translate to a boost to the economy, Flynn said.

Conversely, “there’s nothing that [adversely] impacts consumer confidence” more than high gasoline prices, he said.

“I think we’re entering an era of lower gasoline prices,” Flynn said, barring disruptions in the supply of oil and gas caused by natural disasters and foreign wars.

Thanks to production of oil and natural gas through shale exploitation, the country now produces more crude than it imports, he said. Plus, the country is making more-efficient use of energy, including use of alternative sources. “The energy mix is changing,” he said.

Williams said that five years ago the United States was importing 70 percent of the crude oil it uses.

He said the drop in prices could reach as much as 20 cents a gallon. That’s dependent on the stability of the supply of crude oil, he said, adding that foreign political instability can change the picture.

The rule of thumb is for every drop of $1 in the price of crude, there is a decrease of 2.5 cents a gallon in the price of gasoline, Williams said. West Texas Intermediate crude has dropped to $97 a barrel in the past month, down from $103, he noted, hence the fall at the pump.

Yet prices cannot drop too far, lest the producers become discouraged from turning out more, Williams cautioned.

“The level of drilling … will drop,” he said. And the petroleum industry produces a “tremendous number of jobs.” For instance, five years ago there were 75 drilling rigs in Arkansas, nearly all of them dedicated to natural gas, compared with 10 now producing gas and two pumping oil, Williams said.

Front Section, Pages 1 on 10/26/2013