Gas prices: 4 straight days of declines
Gasoline prices fall for the fourth straigth day but remain 89 cents above year-ago levels.
NEW YORK (CNNMoney.com) -- Gasoline prices extended their decline for the fourth consecutive day, according to a nationwide survey of gas station credit card swipes, even in the hurricane ravaged states along the Gulf of Mexico.
The average price of regular unleaded gasoline fell another 0.3 cents to $3.678 a gallon from $3.681 a day earlier, motorist group AAA said Thursday.
Despite the lasting effects of Hurricane Gustav, gas prices fell in the Gulf states of Louisiana, Texas and Alabama, according to AAA. Prices rose in Florida, but declined in Georgia and South Carolina, as Tropical Storm Hanna threatens to bring heavy rain and winds to those states by the end of the week.
Falling oil prices have also helped drag down the price of gasoline. Oil fell to nearly a five-month low Wednesday amid anticipation that Gustav caused less damage than expected. Crude prices were up slightly early Thursday ahead of a weekly inventory report.
Gas has fallen about 44 cents from the record high average of $4.114 that AAA reported on July 17, but they are still 89 cents above last year's Sept. 4 prices.