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
Complete Coverage Special Report Energy Fix

Gas prices down 21 days in a row

The national average price for a gallon of gas slips to $3.849. Only 10 states are above $4 a gallon.

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)
By Ben Rooney, CNNMoney.com staff writer

I believe profits from Iraqi oil should be used to:
  • Reimburse U.S. taxpayers for the war
  • Rebuild Iraq
  • Both
  • Neither

NEW YORK (CNNMoney.com) -- Retail gasoline prices fell more than a penny overnight, extending a downward trend for the 21st straight day, a survey of gas station credit card swipes showed Thursday.

The national average price for a gallon of regular gas fell to $3.849 from $3.862 the previous day. That's down more than 6% from the record high of $4.114 that gas prices hit on July 16.

Gas prices have eased substantially in recent weeks amid signs that global demand for petroleum products is slowing.

But gas prices remain high in historical terms. Thursday's national average price is more than $1 higher than it was a year ago.

Ethanol. High gas prices have prompted many Americans to use alternative fuels like ethanol.

The price of E85, an 85% ethanol blend that burns cleaner than straight gasoline, fell 2 cents to $3.111 a gallon on average, AAA reported.

Ethanol, which is made from renewable resources like corn, is thought to be more sustainable than gas, but it is less efficient.

As a result, a car that burns E85 would actually pay $4.093 a gallon to get the same mileage as a car that runs on gas, according to AAA.

Diesel. The national average price for diesel fuel, used mostly for transportation and industrial purposes, fell to $4.614 a gallon from $4.633 the day before.

Diesel prices are up more than 56% over last year, which has contributed to a sharp increase in the prices that consumers pay for goods and services.

State prices. Based on data from credit card swipes at 85,000 fuel stations around the country, the AAA survey showed that gas remains above $4 a gallon in 10 states. That's down from 11 states and the District of Columbia in Wednesday's survey.

In Alaska, the state with the highest prices, drivers pay an average of $4.624 a gallon. Hawaii, the state with the second highest prices, saw average prices rise slightly to $4.476 from $4.468. California, the state in third place, saw prices slip to $4.177 on average.

Oklahoma remains the state with the lowest gas prices. The average price in the state is $3.609 a gallon. In Missouri, the next cheapest state for gas, drivers paid $3.617 on average, followed by Minnesota at $3.630 a gallon. To top of page

Features
Markets Last Change
Dow Jones 10,281.51 34.54 / 0.34%
Nasdaq 2,163.77 12.69 / 0.59%
S&P 500 1,097.69 4.68 / 0.43%
10-year Bond 101 6/32 Yield: 3.47%
U.S.Dollar 1 euro = $1.497 -0.001
November 11, 2009 2:36 PM ET
CompanyPrice% Change
Toll Brothers Inc 21.08 14.63%
Smithfield Foods Inc 16.95 8.45%
Beazer Homes USA Inc 5.52 8.24%
UAL Corp 7.24 7.99%
Nov 11 2:33pm ET †
More Galleries
Detroit: The Innovators The Motor City needs new industries. These 7 entrepreneurs are bringing tech, medical research and design jobs to the Detroit metro area. More
Road buddies Need to plan the best route and dodge speed traps along the way? Try these GPS devices and radar detectors. More
6 most efficient cars and trucks These vehicles top their classes in fuel economy while offering strong performance, too. More

Sponsors

© 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.