Gas prices hit five-year low

The national average price of regular unleaded gasoline falls to $1.63 a gallon matching a level not seen since February 2004.

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)

Describe your online shopping habits this holiday season:
  • Iím spending more than last year
  • Iím spending less than last year
  • I never shop online
  • Iím not spending anything this year

New York (CNNMoney.com) -- Drivers returning home from the Christmas holiday this weekend will be paying less for gasoline than they have in in five years, according to a survey of credit card swipes at service stations across the nation..

The national average price dropped for its eighth consecutive day to $1.630 a gallon, down 1.2 cents from the previous day, according to the motorist group AAA.

The national average last hit close to the current price on Feb. 18, 2004, when it averaged at $1.63.

Prices are down 60% from the record high of $4.114 a gallon touched on July 17.

Gas remains is below $2 in all 48 contiguous sates and the District of Columbia, according to AAA. The highest average gas price was in Alaska ($2.53), while the cheapest was found in Utah ($1.45).

The AAA figures, compiled by Oil Price Information Services, are state-wide averages based on credit card swipes at up to 100,000 service stations across the nation. 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
Check out the 5 most expensive stocks Talk of a stock market bubble is growing louder. These stocks are some of the priciest in the S&P 500. More
5 bold ideas from hedge fund titans Hedge fund managers revealed some of their big investment predictions at the CNBC Institutional Investor Delivering Alpha conference this week. More
6 events that spooked the market in 2014 It's been a bumpy 2014. Before Israel invaded Gaza and the plane crash in Ukraine, these six events threatened to derail the bull market ... briefly More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.