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Gas prices fall again

Gasoline prices decline for the 38th day, to level last seen in October 2007.

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NEW YORK (CNNMoney.com) -- Gasoline prices fell again, tumbling to the lowest price in a year, according to a daily survey of credit card swipes released Saturday.

The average price of unleaded regular fell to $2.735 a gallon, down four and six-tenths of a cent, according to the Daily Fuel Gauge Report issued by motorist group AAA. Prices have fallen $1.12, or 29%, in the last 38 days.

The current national average is $1.37, or 33.5%, off the record high price of $4.11 that AAA reported July 17.

The decline comes as hurricane season winds down and oil prices drop over concerns that a prolonged economic slump would curb demand for energy.

The last time the average price for a gallon of regular unleaded gasoline was close to this price was October 18, 2007, when the price averaged $2.795.

Alaska has the most expensive gas with prices averaging $3.78. The cheapest gas is found in Oklahoma with prices averaging $2.33. To top of page

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Markets Last Change
Dow Jones 10,058.64 150.25 / 1.52%
Nasdaq 2,150.87 24.82 / 1.17%
S&P 500 1,070.52 13.78 / 1.30%
10-year Bond 97 25/32 Yield: 3.64%
U.S.Dollar 1 euro = $1.377 -0.002
February 9, 2010 12:00 AM ET
CompanyPrice% Change
UAL Corp 15.38 17.67%
AMR Corp 8.27 12.98%
Continental Airlines Inc 19.23 10.79%
US Airways Group Inc 6.43 8.43%
Feb 9 3:54pm ET †
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