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| See how the right insulation can save you money on home heating this winter. CNN's Gerri Willis reports. (November 1) |
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NEW YORK (CNN/Money) -
Gasoline prices continued to fall Thursday, losing almost two cents, while the cost of a gallon of diesel came down as well, according to a survey.
The nationwide average price for regular unleaded fell to $2.448 a gallon from $2.467 Tuesday, according to AAA's "Daily Fuel Gauge Report." The price is down nearly 20 percent from the record high of $3.057 reached on Labor Day, following Hurricane Katrina.
Gasoline prices, which have recently posted a decline of one to two cents per day, are down from $2.941 a month ago, but up from $2.017 a year ago, AAA says, a year-over-year increase of over 21 percent.
Retail diesel prices, which had not experienced the same recent declines as gasoline, dipped half a cent to $3.013 a gallon from $3.032 Monday. Diesel prices are down over six percent from a record $3.239 set Oct. 24, but they're up 35 percent from $2.244 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.
But the U.S. government reported Wednesday in its weekly inventory report that demand for gasoline was running 1.7 percent lower than the year before.
That drop in demand was smaller than the two percent drop seen since Hurricanes Rita and Katrina and led some analysts to believe the falloff was due more to region disruptions caused by the storms rather than a fundamental change in consumption patterns.
Many analysts are expecting prices to rebound as demand picks up and winter approaches.
On a state-by-state basis, AAA says Hawaiians pay the most for regular unleaded at $2.924 a gallon. Oklahoma has the lowest prices, at $2.125 a gallon.
The average price for a gallon of mid-grade gasoline fell two cents Wednesday to $2.599, according to AAA. Premium unleaded also declined two cents to $2.694 a gallon.
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Gas prices may be going down, but what about your heating bill? Click here.
Click here for CNN/Money's special report 'Oil Crunch 2005.'
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