Average gas price falls below $1.80

AAA survey declines for 78th straight day, with gas above $2 a gallon in only 3 states.

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 Kenneth Musante, CNNMoney.com staff writer

The holiday shopping season is off to a slow start. What is your spending strategy?
  • Stick to a list
  • Wait for better deals
  • Buy fewer gifts
  • I don't have a strategy

NEW YORK (CNNMoney.com) -- The average gas price in the United States fell below $1.80 a gallon Thursday for the first time since early 2005, according to a daily survey of gas station credit card swipes.

Regular unleaded gasoline lost 1.4 cents to sell at a national average of $1.789 a gallon, down from $1.803 Wednesday, according to motorist group AAA.

Gas prices have fallen for 78 days in a row, with the national average plunging more than $2 a gallon. Prices are down 56.5% from the record high of $4.114 a gallon touched on July 17.

The national average gas price last hit $1.789 was Jan. 12, 2005.

Gas remains above $2 a gallon in only 3 states, according to AAA.

The average price in Alaska, the most expensive state, was $2.74 a gallonge, while the average price was $2.627 in Hawaii, and $2.145 in New York. Gas was cheapest in Missouri, where it sold at an average price of $1.553 a gallon.

Diesel: The price of diesel fuel, which is used in most trucks and commercial vehicles, has also fallen along with gasoline.

The price fell 1.8 cents Thursday to a national average of $2.722 a gallon, according to the AAA survey.

Diesel prices have fallen more than $2 a gallon as well, down from a record high of $4.845 on July 17.

Ethanol: Meanwhile the price of E85, an 85% ethanol blend made primarily from corn, turned higher, gaining 1.2 cents to $1.578 a gallon on average, AAA reported.

E85 can be used in place of regular gas in specially configured "flex-fuel" vehicles, but is not readily available in some states.

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. Individual drivers may see lower fuel prices in different areas of each state. To top of page

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.