Gas prices dip below $2.25

As prices fall for 54 days straight, three states report averages below $2 per gallon.

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 Lara Moscrip, CNNMoney.com contributing writer

How secure is your job?
  • Very safe
  • Safe, for the time being
  • Not safe at all
v2-cnnmoney-chart1.mkw.jpg
Click chart here for other commodity prices

NEW YORK (CNNMoney.com) -- Gasoline prices sank to their lowest level in 21 months, with three states posting prices below $2 a gallon.

The average price of unleaded regular gas dropped 1.9 cents to $2.24 a gallon, from $2.259 the day before, according to a survey released Tuesday by motorist group AAA.

The last time gas was this low was Feb. 14, 2007.

Gas has fallen 54 straight days, since just after Hurricanes Gustav and Ike battered the Gulf coast in September.

Prices have dropped 45.55%, or $1.874, from their record high of $4.114 a gallon set July 17, according to AAA. The average price per gallon dropped below $3 on Oct. 18, the first time in nearly nine months.

Gas has dropped by 86 cents from this time a year ago, a decrease of 20.9%. In the past month, prices have dropped more than a dollar, $1.051 a gallon, for a decrease of 25.55%.

By state, Alaska reported the highest average gas prices, $3.323 per gallon, while Missouri boasted the cheapest, at $1.928 a gallon, according to AAA.

In addition to Missouri, Oklahoma and Ohio reported prices below $2 per gallon.

Gasoline prices have fallen while average crude prices have done the same in the past four months. Although U.S. crude for December delivery rose $2.96 to $64 a barrel in New York trading on Monday, that's down from its high of $147.27 a barrel on July 11.

The AAA figures are state-wide averages based on credit card swipes at up to 100,000 service stations across the nation. Many drivers have reported even lower prices across the country.  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.