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 price drop: 60 days straight

National average price for gallon of gasoline falls to $2.105. Peak was $4.114 in July.

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)
CNNMoney.com staff

NEW YORK (CNNMoney.com) -- Remember $4 gas? Soon it will be $2 gas.

As the nation's economy worsens, the demand for oil and gas wanes. As a result, prices drop. And drop. And drop.

The price of gas fell overnight Sunday for the 60th consecutive day.

The national average price for a gallon of regular gasoline fell 2 cents to $2.105 a gallon, according to a survey released Sunday by the American Automobile Association.

A gallon of gas has dropped nearly in half since hitting an all-time high of $4.114 on July 17. It's been nearly two years since prices were this low, according to AAA figures.

At the high end, drivers in two states are paying an average of $3 or more: Alaska, at $3.181 a gallon, and Hawaii, at $3.049.

But there are now 16 states where the average price has fallen below $2. Missouri had the cheapest gas in the nation, at $1.816 a gallon.

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 fell $1.20 to settle at $57.04 a barrel on Friday.  To top of page

Features
  • samuel_palmisano.04.jpg
    IBM Chief Sam Palmisano heads the top company for developing talent. More
  • mpw_2009_portraits2.04.jpg
    Shot during the Fortune Most Powerful Women Summit, some of the world's most influential leaders. More
  • f_procter_gamble_full.mov.fortune.160x90.jpg
    Former CEO, A.G. Lafley, and current CEO Bob McDonald talk about the future. Play
  • john_reh.04.jpg
    These workers fear that settling for a survival job could hurt them when hiring picks up again.  More
  • oil.ju.04.jpg
    $80 oil is a problem and could hurt recovery of a fragile consumer-led economy. More
  • 2009_mini_cooper.04.jpg
    The small carmaker will produce its own high-end version of the luxury icon. More
  • foodie_gifts.04.jpg
    Choose one of these culinary gift ideas for the kitchen lover in your life. More
Markets Last Change
Dow Jones 10,450.95 132.79 / 1.29%
Nasdaq 2,176.01 29.97 / 1.40%
S&P 500 1,106.24 14.86 / 1.36%
10-year Bond 100 6/32 Yield: 3.35%
U.S.Dollar 1 euro = $1.496 0.010
November 23, 2009 4:03 PM ET
CompanyPrice% Change
Blockbuster Inc 0.64 -13.78%
CIGNA Corp 32.12 6.94%
Barnes & Noble Inc 23.42 5.02%
Dillard Department Stores Inc 16.42 4.85%
Nov 23 3:53pm ET †
More Galleries
Women of power Shot during the Fortune Most Powerful Women Summit, these portraits showcase some of the world's most influential leaders. Photographs by Robyn Twomey. More
Better digs, less money These 6 businesses took advantage of crashed real estate prices to trade up for new stores and office space. More
Heroes of the Economy: Where are they now? In March, CNNMoney profiled people making personal sacrifices to help others during the recession. Did their efforts pay off? CNNMoney checks in. 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.