Gas Prices Dip Below $2.25 Average

Press enter to search
Close search
Open Menu

Gas Prices Dip Below $2.25 Average

NEW YORK -- Gasoline prices sank to their lowest level in 21 months, with three states posting prices below $2 a gallon, according to a report by

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 the price of gasoline was this low was Feb. 14, 2007.

Gasoline prices have fallen 54 straight days, since just after Hurricanes Gustav and Ike battered the Gulf coast in September, according to the report.

Prices have dropped 45.55 percent, 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 percent. In the past month, prices have dropped more than a dollar, $1.051 a gallon, for a decrease of 25.55 percent.

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, reported.

The AAA figures are statewide 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.