Gas falls below $1.70

Fuel prices march downward for 83rd day in a row, remaining above $2 a gallon in only 3 states, survey says.

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)
By Kenneth Musante, CNNMoney.com staff writer

Can the markets sustain a stock rally through the end of the year?
  • Yes
  • No

NEW YORK (CNNMoney.com) -- Gasoline prices fell below $1.70 a gallon at the pump Tuesday, according to a daily survey of gas station credit card swipes.

Regular unleaded slipped 1.8 cents to a national average of $1.698 a gallon from $1.716 on Monday, according to motorist group AAA, the lowest since March 1, 2004, when gas was selling at an average of $1.69.

The price of gasoline has fallen for 83 consecutive days, and is more than $2 a gallon cheaper since hitting a record high of $4.114 on July 17th, according to AAA data. The price of crude oil, gasoline's primary ingredient, has fallen more than $100 a barrel on the open market.

On Tuesday, average gas prices remained above $2 a gallon in only 3 states: Alaska ($2.714), Hawaii ($2.526) and New York ($2.051).

Gas was the cheapest in Missouri, where the average price fell below $1.50 a gallon to $1.484.

Diesel: The price of diesel fuel, which is used in most trucks and commercial vehicles, also continued to slide.

The price fell 0.8 cents Tuesday to a national average of $2.629 a gallon, according to the AAA survey.

Diesel prices have fallen more than $2 a gallon since hitting a record high of $4.845 on July 17.

Ethanol: As falling demand pulled down gasoline and diesel prices, the price of E85, an 85% ethanol blend made primarily corn, fell to $1.537 a gallon from $1.561 on Monday, according to AAA.

E85 can be used in place of regular gas in specially configured "flex-fuel" vehicles, but it is not readily available in some states.

The AAA figures are state-wide averages based on credit card swipes at up to 100,000 service stations across the nation. These are state-wide averages, and individual drivers may see lower fuel prices in different areas of each state. 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
10 of the most luxurious airline amenity kits When it comes to in-flight pampering, the amenity kits offered by these 10 airlines are the ultimate in luxury More
7 startups that want to improve your mental health From a text therapy platform to apps that push you reminders to breathe, these self-care startups offer help on a daily basis or in times of need. More
5 radical technologies that will change how you get to work From Uber's flying cars to the Hyperloop, these are some of the neatest transportation concepts in the works today. More
Sponsors

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.