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 down nearly $2 from record

Daily survey shows national average gas price comes down another 2.6 cents overnight.

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)

NEW YORK (CNNMoney.com) -- Retail gasoline prices fell further overnight, bringing the decline since the summer's record high to nearly $2 a gallon, according to figures released Friday.

The national average price for a gallon of regular gasoline fell 2.6 cents to $2.152 from $2.178 Thursday, according to a daily survey for the American Automobile Association.

The price of gas has dropped $1.962, or 48%, since hitting an all-time high of $4.114 in July.

Gas prices have declined for 58 days in a row, tumbling more than $1.70, or 44.2%, in that time. Friday's national average price is the lowest since Jan. 31, 2007, when it was $2.151.

The states with the highest gas prices were in Alaska, at $3.221 a gallon, and Hawaii, at $3.079.

Missouri had the cheapest gas in the nation, at $1.864 a gallon, and is one of 9 states with average prices below $2.

Even as gas prices fall, demand has continued to slip. MasterCard's weekly survey of gas station credit card swipes showed demand down 4.2% last week, compared to the same period last year.

The rapid decline in gas prices comes as the price of crude oil continues to collapse. Crude prices, which make up roughly half of gasoline prices, have fallen more than 60% since hitting a record $147.27 a barrel on July 11.

Crude for December delivery settled at $58.24 on Thursday.  To top of page

Features
  • karolyne_sosa_film_producer.04.jpg
    Anne Giapapas has a job in one of the 15 most overworked and underpaid professions. More
  • heels.04.jpg
    These 5 businesses are offering their services -- from shoes to hair cuts -- to the unemployed. More
  • mark_zuckerberg__2007.04.jpg
    These rising stars, like Facebook's Mark Zuckerberg, have great jobs to fill. Here's what they're looking for. More
  • whitney_wise.04.jpg
    They graduated into the worst economy in decades. Here's how 11 grads are getting by. More
  • masoud_modarres.04.jpg
    For some, getting laid off ends up being the ultimate opportunity. More
  • james_murdoch.04.jpg
    Executives like News Corp. chairman James Murdoch raked it in. Where the other 19 rank. More
  • lincoln_ne.ju.04.jpg
    These 5 cities have the fastest-growing foreclosure rates. And they're not the usual suspects. More
Markets Last Change
Dow Jones 10,247.20 20.26 / 0.20%
Nasdaq 2,151.08 -2.98 / -0.14%
S&P 500 1,093.02 -0.06 / -0.01%
10-year Bond 101 7/32 Yield: 3.47%
U.S.Dollar 1 euro = $1.498 -0.002
November 10, 2009 4:02 PM ET
CompanyPrice% Change
Beazer Homes USA Inc 5.11 8.96%
Fluor Corp 44.27 -7.79%
YRC Worldwide Inc 1.10 -6.78%
ArvinMeritor Inc 9.23 6.22%
Nov 10 3:53pm ET †
More Galleries
Madoff's stuff for sale Many of Bernie Madoff's victims would like to have a piece of the felonious financier. Now they can. This week hundreds of his and Ruth's possessions go up for auction. More
Hope for homeowners Critics thought homeownership would never work in the South Bronx. They were wrong. Tour the one house currently for sale on Charlotte Street. More
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
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.