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AAA: Gas prices falling steadily
Regular unleaded drops nearly two cents to $2.276 a gallon, diesel down a penny, travel club says.
November 16, 2005: 7:51 AM EST

NEW YORK (CNN/Money) - The price of gasoline went down nearly two cents Wednesday as it continues its slow decline towards pre-September prices, according to travel club AAA.

Diesel fell by a penny and was down 45 cents during the last month.

The nationwide average price for regular unleaded fell to $2.276 a gallon from $2.292 on Tuesday, according to AAA's "Daily Fuel Gauge Report." The price is down 25 percent from the record high of $3.057 reached on Labor Day, following Hurricane Katrina.

Gasoline prices, which have steadily posted declines of one to two cents per day recently, are down from $2.752 a month ago but up from $1.958 a year ago, AAA says, a year-over-year increase of 16 percent.

Retail diesel prices, which had not dropped as much as gasoline, fell one cent Wednesday to $2.751 a gallon from $2.761. Diesel prices are down more than 15 percent from a record $3.239 set Oct. 24, but they're up 26 percent from $2.188 a year ago.

Gasoline prices have steadily fallen on signs that the soaring expense of energy is finally starting to curb consumption within the U.S., the world's biggest user of fuel.

On a state-by-state basis, AAA says Hawaii residents pay the most for regular unleaded at $2.773 a gallon. Oklahoma has the lowest prices, at $2.031 a gallon.

The average price for a gallon of mid-grade gasoline fell nearly two cents Wednesday to $2.417, according to AAA. Premium unleaded also declined almost two cents to $2.505 a gallon.


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