Gas prices down 11% from high

Prices drop for 11th day in a row, according to AAA, as oil prices continue fall.

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NEW YORK (CNNMoney.com) -- Gas prices dropped for their eleventh day in a row, bringing their total decline to about 20 cents over the period, according to a nationwide survey of credit card swipes at gasoline stations.

The average price of unleaded regular dropped a further 1.2 cents to $3.655 a gallon, from $3.667 a gallon, according to the survey released Sunday by motorist group AAA.

Prices have dropped dramatically from mid-summer's highs and are now almost 11%, or 46 cents, less than the record of $4.114 a gallon set on July 17.

Prices have stayed below the key $4 level for some time now, but they still remain higher from a year ago.

Current prices are about 85 cents, or 30%, higher from last year, when gas was selling for $2.81 a gallon.

Prices for gasoline also tend to follow oil prices, which had been moving lower since mid-July amid weakening demand. Crude prices have dropped some 26% from their record settlement of $145.29 a barrel nearly two months ago.

Only two states continued to report gas prices above $4 a gallon: Alaska and Hawaii, according to AAA.

Alaska continued to be the state with the most expensive gas prices, at $4.285 a gallon. Oklahoma had the cheapest gas prices, at $3.36 a gallon. To top of page

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