Gas Price Down for Two Straight Months
CNN reported that $2 gas is quickly becoming the new $4 gas.
The economic crisis has caused the demand for oil and gas to decrease. As a result, gas prices have dropped - and are still dropping.
Sunday marked the 60th consecutive day of falling gas prices.
According to a survey released Sunday by the American Automobile Association, the national average price per gallon of gasoline has fallen 2 cents to $2.105 a gallon.
Gas hit an all-time high of $4.114 on July 17. Gas prices now are almost half that, and AAA figures say that gas prices have not been this low in two years.
At the high end of the spectrum, drivers in Hawaii are paying an average of $3.049 per gallon, and Alaskans are paying $3.181.
The average price has dropped below $2 in 16 states. With its average of $1.816 per gallon, Missouri has the cheapest gas in the nation.
The decline in gas prices is following the continually collapsing price of crude oil. Crude prices, which make up about half of gasoline prices, have fallen over 60% since they hit a record price of $147.27 per barrel on July 11.
Crude oil for December delivery fell $1.20, settling Friday at $57.04 per barrel.