DETROIT (Sept. 27, 2006) — Gasoline prices have dropped to levels not seen in six months—down 49 cents a gallon from a month ago.
The steep drop comes after prices peaked at averages higher than $3 a gallon in late July. Since then, prices haven't stalled in their descent.
The national average price for regular unleaded gasoline yesterday was $2.37 a gallon, down 7 cents from Friday, Sept. 22. One month ago, regular unleaded was selling for an average of $2.86 a gallon, according to AAA, of Hawthorne, Fla.
Average prices for midgrade and premium gasoline are down even more. Midgrade is selling for an average of $2.51 a gallon, 8 cents lower than four days ago. Premium is down 9 cents, selling for an average of $2.60 a gallon.
AAA's Daily Fuel Gauge Report gathers data from as many as 85,000 filling stations nationwide and posts its findings on www.fuelgaugereport.com.
The average price of diesel fuel is down 8 cents from Friday, selling for $2.71 a gallon nationwide. That is 30 cents lower than one month ago.
Crude oil prices briefly fell below $60 a barrel Monday, Sept. 25, for the first time in six months. The price has jumped since then, trading for $61.02 a barrel yesterday. That price remains lower than last Friday, when it was trading for more than $62 a barrel.
Despite prices in the low $2 range for gasoline in many parts of the country, drivers in Kailua Kona, Hawaii, were being charged $3.39 for a gallon of regular unleaded at one station. This was the highest price found in the nation.
In Harrisonburg, Va., drivers were paying $1.85 a gallon at one station for regular unleaded, the lowest price found in the nation.
GasPriceWatch.com uses volunteer spotters to watch gasoline prices nationwide. More than 438,000 prices have been listed this week.