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Gas prices deflate
Lose nearly another three cents a gallon while diesel drops close to two cents as supply fears wane.
September 16, 2005: 6:38 AM EDT

NEW YORK (CNN/Money) - Gasoline prices continued to slip, losing nearly three cents a gallon in the newest AAA daily report issued Friday.

The national average for the price of regular unleaded gasoline at the pump fell to $2.887 from $2.915 the previous day, the travel club said.

The average price for a gallon of regular unleaded gas was $1.838 a year ago, according to AAA.

Gasoline prices have moved lower since peaking at $3.057 on Labor Day.

Mid-grade and premium gasoline prices also retreated across the country. The nationwide average at the pump for mid-grade gas fell to $3.065 a gallon from $3.094. Premium gasoline slipped to $3.177 from $3.208, while diesel prices dipped nearly two cents to $2.876 from $2.894, AAA reported.

AAA's "Daily Fuel Gauge Report" revealed that gasoline prices in Hawaii were the most expensive in the country, with the average cost of regular unleaded being $3.673. Gasoline prices in Mississippi were the cheapest, with regular unleaded at $2.617 on average.

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Click here for CNN/Money's special report 'Oil Crunch 2005'.

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