The leading source for credible citizen reporting

Report Your News
Take the tour...

Gas down almost 6 cents, nearing $3

New York City : NY : USA | about 1 year ago  
Views: 17

NEW YORK (CNNMoney.com) -- Gasoline prices fell nearly 6 cents a gallon, coming within 30 cents of $3, according to a daily survey of credit card swipes.

The decline comes as oil prices get roiled by anxiety over weakening demand and as the end of the economic crisis appears to be quite a ways off.

The average price of unleaded regular fell to $3.291 a gallon nationwide, down 5.9 cents from $3.350, according to the Daily Fuel Gauge Report issued by motorist group AAA.

The price has now tumbled more than 82 cents, or more than 20%, below the record $4.114 set July 17. It's down nearly 38 cents from a month ago, but remains some 53 cents, or 19%, higher from a year ago.

The average price fell below $3 a gallon in Kansas, where a gallon sells for $2.907, on average. Gasoline is highest in Alaska, at $4.097 a gallon, with Hawaii - at $4.051 - the only other state above $4 a gallon.

Gasoline prices had surged during the highly traveled summer season and as a series of hurricanes battered oil refineries in the Gulf of Mexico. But with hurricane season nearly over, prices began their slide.

Oil prices also have been moving sharply lower amid fears that the economic crisis, which has deepened globally, will have a severely adverse effect on demand.

Crude plunged to a 13-month low on Friday, shedding as much as $9 a barrel at one point. Prices for the November contract ended down $8.89 to $77.49 a barrel. That's a far cry from the $147.27 a barrel seen in July.

The survey is conducted for AAA by Oil Price Information Service from credit card swipes at more than 85,000 service stations nationwide.

  • Print
  • Share:
  • Share
  • Digg
  • Reddit
  • Facebook
  • Stumbleupon

Related Allvoices Contributions

News Stories
 
  • News Source: Tahoe Daily Tribune | about 1 year ago
    Gasoline prices in Nevada continue to fall, dropping 89 cents a gallon over the past three months, AAA said Tuesday. The statewide average for a gallon of self-serve unleaded fell to $3.36, down 35 cents from the last monthly survey in September, the...
  • News Source: The Boston Globe | about 1 year ago
    The average U.S. retail gasoline price fell 33.3 cents over the last week to $3.15 a gallon, the biggest price decline ever recorded by the government, the Energy Department said Tuesday. The old record decline of 16.9 cents a gallon occurred during...
  • News Source: Portland Tribune | about 1 year ago
    AAA Oregon reported Tuesday that the average price of a gallon of regular gasoline across the state dropped 15 cents in the past week to $3.34, its lowest point in seven months. The national average dropped 32 cents to $3.16 a gallon, its lowest...
  • News Source: Belleville News-Democrat | about 1 year ago
    Prices fell below $3 Monday and continued that slide Tuesday, with prices falling by four cents or so at the least expensive stations in the area. Gasoline has dropped 30 cents in four days, with prices above $3.25 as recently as Friday. A drop in...
  • News Source: The News-Dispatch | about 1 year ago
    Monday, gasoline was $2.98 a gallon at some stations in Michigan City. And the lower prices came just after the stock market made its worst decline in history last week. But experts say the two don't have anything to do with one another. Demand for...
  • News Source: Wisconsin State Journal | about 1 year ago
    We're back below $3 a gallon for regular gasoline in the Madison area as pump prices continue to fall based on a general decline in the cost of crude oil in recent weeks. At least 15 Madison-area gasoline stations were selling regular gas for less...
Blogs
 >
  • Blog Source: fininformer.com
    Gasoline is highest in Alaska, at $4.165 a gallon, with Hawaii - at $4.107 - the only other state above $4 a gallon. The survey is conducted for AAA by Oil Price Information Service from credit card swipes at more than 85000 service ...
  • Blog Source: www.gsmic.us
    The average price of regular unleaded decreased to $2.314, a 2.6 cent drop from Thursday. This is the lowest price the nation has seen since February 24, 2007, according to the national survey, which is based on credit card swipes at ...
  • Blog Source: www.democraticunderground.com
    But the United States, Britain and Europe are expected to ease their rates further next month as the worst financial crisis in 80 years hastens recession across much of the globe. St Louis Federal Reserve President James Bullard said ...
  • Blog Source: www.honoluluadvertiser.com
    Gasoline prices continued their fall during the past week, with prices dropping 19 cents statewide to $3.079 a gallon for a gallon of regular, according to AAA Hawaii.
  • Blog Source: blogs.kaixo.com
    NEW YORK (CNNMoney.com) — Gasoline prices continued to spiral toward $2 a gallon, falling for the 64th day in a row, according to a national survey of gas station credit card swipes released Thursday. ...
  • Blog Source: www.macupdate.com
    Car Care helps you deal with high gas prices by automatically calculating your car's Miles Per Gallon. Car Care also reminds you when to perform scheduled maintenance on your car, such as oil changes and tire rotations, to help you get ...
Images
 >
 
Videos
 >
 
Reported by politicaljunkie
Report Your News Got a similar story?
Add it to the network!

Or add related content to this report

Cell phones Cell phones use report code: @1507738

Most Popular Reports

Related Allvoices Reports

Contributions

Help and Accounts


Use of this site is governed by our Terms of Use Agreement and Privacy Policy.

© Allvoices, Inc 2008-2009. All rights reserved.