Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Survey: Gas prices near 5-year low

Average gasoline price has dropped 22 cents in the last weeks.

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)

alabama_gas_3.03.jpg

(CNN) -- The U.S. average for gas prices dipped to $1.75 a gallon, a near five-year low, a national survey said Sunday.

The average price of self-serve gasoline dropped 22 cents in the past two weeks, said Trilby Lundberg, publisher of the Lundberg Survey.

The average, tallied on Friday, was the lowest since the $1.74 average on March 12, 2004, Lundberg said.

Lundberg attributed the price reductions to a drop in crude prices and demand. Prices could drop more if the global economic crisis continues to affect demand for crude oil.

The all-time high average was $4.11, set on July 11, according to Lundberg.

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

Drivers in Cheyenne, Wyoming, had the cheapest gas prices, paying $1.46 on average. Motorists in Anchorage, Alaska, paid the most, at $2.54 on average.

Here are average prices in other cities:

Detroit, Michigan -- $1.61

El Paso, Texas -- $1.81

Atlanta, Georgia -- $1.72

Salt Lake City, Utah -- $1.58

Manchester, New Hampshire -- $1.76

Miami, Florida -- $1.87

Los Angeles, California -- $1.83

Portland, Oregon -- $1.93 To top of page

Features
They're hiring!These Fortune 100 employers have at least 350 openings each. What are they looking for in a new hire? More
If the Fortune 500 were a country...It would be the world's second-biggest economy. See how big companies' sales stack up against GDP over the past decade. More
Sponsored By:
More Galleries
Best cars for the super-rich The Robb Report has selected these as the best new cars and SUVs for anyone who doesn't have to worry about how much they spend. More
Banned! 10 things you won't find in China China says it wants to open its economy more to the rest of the world, but Beijing keeps a tight grip on technology and access to media. These 10 items are still off limits. More
A morning at the AltSchool, an education startup that Silicon Valley is crazy about The AltSchool is a system of "micro schools" and an education software maker that has raised about $133 million from investors like Andreessen Horowitz and Mark Zuckerberg and Priscilla Chan's philanthropic fund. More
Sponsors