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Gas prices near $2.25

AAA survey shows gas prices have fallen for 53 straight days. Lundberg survey finds that prices dropped a little more than 48 cents in the last two weeks.

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By CNNMoney.com staff

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NEW YORK(CNNMoney.com) -- Gasoline prices fell for the 53rd straight day, according a survey released Sunday by the motorist group AAA.

The average price of regular unleaded decreased to $2.259, a 2.3 cent drop from Saturday, according to the national survey, which is based on credit card swipes at gas stations. Before this week, the last time prices were this low was on February 24, 2007, according to AAA.

Over the last 53 days, prices have sunk $1.59, a 41.4% decrease, according to AAA.

A separate national survey found that gas prices dropped a little more than 48 cents in the last two weeks, continuing a dramatic fall.

It was the second largest drop in the six-decade history of the Lundberg Survey. The previous largest drop was just a few weeks ago, the last time the survey was conducted.

The average price of self-serve, unleaded gasoline in the United States on Friday was about $2.30 a gallon, said publisher Trilby Lundberg.

Demand for gasoline has continued to slip, despite the fall in gas prices. MasterCard's weekly survey of gas station credit card swipes showed demand down 3.9% last week, compared to the same period last year.

Prices have dropped 45%, or almost $1.86, from their record high of $4.114 a gallon set July 17, by AAA's count. The average price per gallon dropped below $3 on Oct. 18, the first time in nearly nine months.

The all-time high average was $4.11, set on July 11, according to Lundberg, and prices have been dropping ever since.

She attributed the price reductions to a drop in crude prices and demand.

By state, Alaska reported the highest average gas prices, $3.298 per gallon, while Missouri boasted the cheapest, at $1.949 a gallon, according to AAA.

Gasoline prices have fallen while average crude prices have done the same in the past four months. U.S. crude for December delivery settled at $61.04 a barrel in New York trading on Friday, down from its high of $147.27 a barrel on July 11.

Only two states, Alaska and Hawaii, have average gas prices above $3 per gallon, while 22 states now report prices below $2.25 per gallon, AAA found.

By city, Lundberg found that Tulsa, Oklahoma, posted the lowest average gas price of $1.89 Friday. The highest averages were $3.14 in Anchorage, Alaska, and $3.09 in Honolulu, Hawaii.

Average prices in some other cities, according to Lundberg:

Detroit, Michigan $2.02

Denver, Colorado $2.15

Atlanta, Georgia $2.16

Boston Massachusetts $2.38

Philadelphia, Pennsylvania $2.41

Los Angeles, California $2.61

The AAA figures are state-wide averages based on credit card swipes at up to 100,000 service stations across the nation. Many drivers have reported even lower prices across the country.

The Lundberg Survey is based on responses from more than 5,000 service stations nationwide. To top of page

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