Gas prices continue to drop
Gas prices continue to drop
Finally some good news about the price of fuel. Gas prices are down for the 24th day in a row and a national survey shows gas prices continued dropping across the nation.
The average price of a gallon of regular gasoline at self-serve stations was $3.85, down from the record high of about $4.11 in mid-July.
Mid-grade went for $3.98 and premium went for $4.10 as of Friday according to the Lundberg Survey of 7,000 gas stations nationwide.
Diesel, used mostly for transportation and industrial purposes, was at $4.64. Diesel prices are up nearly 55 percent from last year contributing to the sharp increases in prices of goods and services.
Oddly, AAA reports that the price of ethanol-blend fuel actually rose on average.
Gas prices have dropped substantially in recent weeks amid signs that global demand for petroleum products could be slowing. But gas prices still remain much higher than they were a year ago with the average price of a gallon of gas about $1 more than in the summer of 2007.
The cheapest gas on the Lundberg Survey could be found in Tulsa, Oklahoma, which had an average of $3.50. Drivers in Anchorage, Alaska, where the average price of gas was $4.37, paid the most.
