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By Samuel R. Avro on Dec 21, 2008 with no responses

Gas Prices Drop Again After 4 Days of Gains


For the second consecutive day gasoline prices fell, according to the American Automobile Association. This comes on the heels of four straight days of price increases.

Regular unleaded fell 0.03 cents to a national average of $1.668 a gallon from the previous day’s $1.671, according to the AAA survey.

Gas prices had fallen for nearly three months before stabilizing and then rising a week ago. During that time, gas prices have fallen nearly $2.50 since hitting a record high of $4.114 in July.

Every state in the contiguous U.S. is selling gas below an average of $2 a gallon. Alaska ($2.622) and Hawaii ($2.391) they were still well above that level.

According to the survey, Wyoming boasted cheapest prices, at $1.475 a gallon.

Gas prices usually follow the route of crude oil, which fell $2.35, or 6.5 percent, to $33.87 a barrel Friday on the New York Mercantile Exchange, the lowest settlement since Feb. 10, 2004. Crude prices are down well over $100 since hitting a high of more than $147 in July.

Diesel fuel fell 0.09 cents from the previous day to a national average of $2.504 a gallon, according to AAA. Diesel is used by most commercial vehicles and the cost of nationwide shipping usually depends on the price of the fuel. The cost of diesel is down more than $2 a gallon since hitting a record high of $4.845 in July.