News > Jobs & Economy
    SAVE   |   EMAIL   |   PRINT   |   RSS  
Gasoline price descent continues
AAA: Regular unleaded at $2.53 a gallon, more than 50 cents off post-Katrina peak.
October 30, 2005: 7:52 AM EST
Playing oil stocks
Earnings could fall dramatically if rising prices lead to reduced demand -- here's a way to cope. (Full story)

NEW YORK (CNN/Money) - Gasoline prices continued their steady descent Saturday, with regular unleaded dropping more than two cents a gallon in travel club AAA's daily fuel report.

The nationwide average price for regular unleaded fell to $2.529 a gallon from $2.552 Friday, according to AAA. The price is down more than a half-dollar from the record high of $3.057 that it hit on Labor Day following Hurricane Katrina, a drop of more than 17 percent.

Gasoline is down from $2.815 a month ago, but up from $2.033 a year ago, AAA says.

Retail diesel, which has lagged the decline in gasoline, fell 3.1 cents Saturday. Diesel is down more than a dime from the record $3.239 set last Monday, but up more than 39 percent from a year ago.

Gasoline prices have steadily fallen during the past two weeks on signs that the soaring expense of energy is finally starting to curb consumption within the U.S., the world's biggest user of fuel. In its weekly inventory report, the U.S. government reported Wednesday that demand for gasoline was two percent lower last week despite the recent decline in pump prices.

On a state-by-state basis, AAA says Hawaiians pay the most for regulated unleaded at $3.032 a gallon. Oklahoma has the lowest prices, at $2.183 a gallon.

Mid grade gasoline prices fell 2.3 cents Saturday to $2.685, according to AAA. Premium unleaded fell 2.6 to $2.783 a gallon.

--

Diesel prices remain higher than gasoline. Click here to find out why.

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

YOUR E-MAIL ALERTS
Follow the news that matters to you. Create your own alert to be notified on topics you're interested in.

Or, visit Popular Alerts for suggestions.
Manage alerts | What is this?