CNNMoney.com
Companies Economy International Corrections Pre-market Trading After-hours Trading Winners/Losers/Actives Bonds Currencies Commodities World Markets Money Magazine Real Estate Taxes Jobs Ask the Expert Money 101 Autos Mutual Funds The Help Desk Loan Center Best Places to Live Ask the Expert Ultimate Guide to Retirement Retirement Calculators Best Funds Best Places to Retire Fortune Brainstorm Tech Apple 2.0 Blog Big Tech Blog Sectors and Stocks Tech Talk Resource Guide Small Business Makeovers Questions & Answers Small Business Video 100 Best Places to Launch FSB 100 Fortune Small Business Fortune 500 Brainstorm Tech Investing Management C-Suite Rankings Main Create Portfolio Edit Portfolio Create Alerts Edit Alerts

Gas prices tick down

National average declines to $4.073 a gallon - a slight change from Friday.

EMAIL  |   PRINT  |   SHARE  |   RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)

Photos
America's Money: Gas crunch hits home America's Money: Gas crunch hits home America's Money: Gas crunch hits home
The record-high price of gasoline is putting a strain on motorists - and spurring some to shift their habits. Here are their stories.
Who has the most power to lower gas prices?
  • Congress
  • Consumers
  • The President
  • Saudi Arabia

NEW YORK (CNNMoney.com) -- Gas prices have dropped slightly, according to a daily survey released Saturday by motorist group AAA.

The national average price for a gallon of regular gasoline declined two-tenths of a cent to $4.073 from $4.075 the day before.

Of course, the price at the pump remains a heavy burden for drivers: The national average is more than a dollar higher than it was a year ago.

Gas prices hit an all-time high of $4.080 on Monday, June 16.

According to AAA, drivers in 31 states and the District of Columbia are paying an average of at least $4 a gallon. The priciest locale is California, with an average per-gallon price of $4.607.

The state with the lowest gas prices is Oklahoma, where a gallon averages $3.830.

The survey also showed the national average price of diesel fell to $4.781 a gallon from $4.786 the day before.

Oil: Supply and demand

Meanwhile, oil prices on Friday were subject to another volatile day of trading.

Crude prices - driven by concerns about supply in the Iranian, Nigerian, and Chinese oil markets - rose nearly $5 before settling higher by less than $3 at $134.62.

Traders also reacted to a weakened dollar, which fell by nearly 1% against the euro and yen Friday.

The escalating price of oil prompted Saudi Arabia, the world's largest oil producer, to convene a special meeting on Sunday to seek solutions. The Saudis are said to be worried that the high prices will dampen demand for crude.

Prices idle drivers

The expense has prompted many Americans to cut back on the amount of driving they do.

The Federal Highway Administration said Thursday it estimates that Americans drove 1.4 billion fewer miles on public roads in April. That's a decline of 1.8% compared to April 2007 and is the sixth consecutive month that drivers have cut back.

So far this year, the agency estimates that drivers have traveled 20 billion fewer miles than in previous years. To top of page

Features
  • 2010_toyota_prius.04.jpg
    The 2010 Prius doesn't look, touch, or feel like a traditional gas-powered car.  More
  • mens_main.04.jpg
    Try these holiday offerings for the fashion-conscious man in your life. More
  • n_detroiters_in_exile.cnnmoney.160x90.jpg
    A couple who moved to New York yearns to return to Detroit when their hometown recovers. Play
  • black_truffle.04.jpg
    A North Carolina entrepreneur wants America to fall in love with truffles. More
  • barter_1.04.jpg
    Business owners are growing their sales by swapping everything from boats to lingerie. More
  • bank_vault.ju.04.jpg
    President Obama's plan would give small banks access to capital, but they are wary of TARP traps. More
  • 091020_nuclear_0154.04.jpg
    Minimum wage to $20 an hour. That's what Sally Delk hopes for with a job at the nuclear power plant.  More
Markets Last Change
Dow Jones 10,406.96 136.49 / 1.33%
Nasdaq 2,197.85 29.97 / 1.38%
S&P 500 1,109.30 15.82 / 1.45%
10-year Bond 100 10/32 Yield: 3.33%
U.S.Dollar 1 euro = $1.497 0.000
November 16, 2009 4:04 PM ET
CompanyPrice% Change
Sprint Nextel Corp 3.55 14.52%
Motors Liq Co 0.64 14.08%
Group 1 Automotive Inc 28.62 8.37%
BlueLinx Holdings Inc 3.28 7.19%
Nov 16 3:53pm ET †
Best holiday gifts for the gadget geek Looking for the perfect present for that tech-savvy someone in your life? Try one of these affordable gadgets. More
6 double dip warning signs The recovery from the Great Recession has likely started. But many economists are worried about falling into another downturn. Here's what has them concerned. More
Best holiday gifts for the style guy Try these holiday offerings for the fashion-conscious man in your life. More


© 2009 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy
Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.