Friday, December 5, 2008

Gas Drops for 79 Days and Counting




Gasoline prices continued their steady descent Friday, with the average national price in a motorist group's survey falling for the 79th consecutive day.

Regular unleaded gas fell 1.6 cents to a national average of $1.773 a gallon, according to motorist group AAA.

The price has tumbled nearly 57% from the record high of $4.114 a gallon set July 17. It's down 59 cents in the past month and $1.26 in the past year.

The slowing economy has sent the price of gasoline's main ingredient - crude oil - plummeting on the open market. Crude oil prices have lost more than $100 a barrel since mid-July.


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