Gas prices ease for 8th straight day

Prices edge lower even as Tropical Storm Hanna dumped heavy rain up and down the east coast. Prices remain 83 cents above year-ago levels.

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)

Do you think the government takeover of mortgage buyers Fannie Mae and Freddie Mac was a good move?
  • Yes. It just might save the housing market
  • No. Its too risky to taxpayers
  • Its too soon to say

NEW YORK (CNNMoney.com) -- Gasoline prices continued to decline, easing for the eighth straight day, as Tropical Storm Hanna dumped heavy rain on the entire eastern coast of the United States, according to a nationwide survey of gas station credit card swipes.

The average price of regular unleaded gasoline fell 0.7 cents to $3.658 a gallon from $3.665 a day earlier, motorist group AAA said Monday.

With Hanna gone, Hurricane Ike is now front and center and on a path toward the Gulf of Mexico. The Category 2 storm could regain strength as it heads toward the Texas/Louisiana border, according to the latest hurricane center track map. Gas prices eased in both those states. Prices also slipped in the Carolinas and Georgia.

Nationwide, Alaska and Hawaii remained the two states with gas prices still tracking above $4 a gallon. The cheapest gas was now found in New Jersey, where prices averaged $3.431 a gallon.

Crude prices have trended lower amid heightened concern about weakening demand. Last week, oil prices fell to their lowest level in five months. Worries about Ike pushed prices up early Monday. Crude futures for October delivery rose $1.10 a barrel to $107.33.

Meanwhile, Gas has fallen about 46 cents from the record high average of $4.114 that AAA reported on July 17, but they are still 83 cents above this time last year.

Also, Americans had cut back on driving during the typically heavy traffic summer months. In fact, demand for gas dropped off by 3% to 4% during the June-to-August period and driving decreased during the same time frame. It remains to be seen whether the trend will hold.  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

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.