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Gasoline Drops Below $3.90 a Gallon

15 days of price declines

By Joe Benton
ConsumerAffairs.com

August 1, 2008

The national average price of a gallon of regular gasoline dropped to $3.89, marking 15 consecutive days of declines. The new price is 21 cents less than the record of $4.11 set July 17.

Regular gasoline now sells for less that $4 a gallon in 40 states, according to the AAA Fuel Gauge Report.

The average price of mid-grade gasoline is $4.06 and premium sells for $4.18 a gallon. Diesel fuel now sells for $4.68, down from $4.69 the previous day, according to AAA.

The record for diesel prices was $4.84, set July 17. Diesel prices have climbed more than 58 percent in the past year.

Gasoline in Alaska is the most expensive in the country, averaging $4.64 a gallon. Consumers in Oklahoma find the cheapest gas in the country at $3.62. Minnesota drivers are not far behind and can buy gasoline for $3.65 a gallon, followed by Missouri at $3.66.

Here is a look at gasoline prices from around the country in the ConsumerAffairs.com Gas Price Round Up:

California: Gasoline prices are down across the state, averaging $4.24 a gallon, 35 cents less than the record set in California June 19. The average price has fallen for six consecutive weeks but remains $1.20 above last year.

The price of a gallon of self-serve regular gasoline in Southern California fell more than 12 cents this week. Regular self serve sells for $4.26 in Los Angeles.

"We've experienced several weeks in Southern California where gas prices shot up by two cents a day but this is the only time we know of when they've plunged by about two cents daily for a week in a row," said AAA spokesman Jeffrey Spring. "Lower demand and consumers shopping around for the best gas prices have helped play a role," Spring said.

Regular gasoline sells for an average price of $4.41 in San Francisco and $4.31 in Santa Barbara.

Texas: For the second week in a row, gasoline prices fell significantly in Texas, according to the AAA Texas Weekend Gas Watch.

The average price for a gallon of gas in the state is now $3.81 a gallon, down nearly 11 cents in one week and 18 cents in two weeks. Prices across Texas are more than a dollar a gallon higher than they were one year ago.

Drivers in Corpus Christi enjoy the cheapest gasoline prices at $3.75 a gallon. Motorists in El Paso pay the highest price for gasoline at $3.86 a gallon.

Florida: Gasoline prices in the state have receded from the record high set July 16 to an average price of $3.913 a gallon.

Regular self-serve sells for $4.39 in Miami, $3.90 in Daytona Beach and $4.87 in Orlando.

South Carolina: Average gas prices fell to $3.715 across the state.

The average price of a gallon of unleaded regular gasoline in the Upstate dropped to $3.65. A month ago, gas across the region averaged $3.82 a gallon, and a year ago it was an average of $2.62 a gallon.

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