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Gas prices continue month-long slide
08/27/2008

Gas prices continue month-long slide

A gallon of gas falls to a nationwide average of $3.667 at the pump, according to a AAA survey.

NEW YORK -- Gasoline prices fell yet again, bringing the total decline to 44.7 cents a gallon since July, according to a national survey of gas station credit card swipes.
 
Gas was selling at $3.667 a gallon on average, down from $3.672 a day earlier, according to motorist group AAA and the Oil Price Information Service.
 
Prices have fallen more than 10% since hitting a record high of $4.114 on July 17, AAA reported.
 
The decline in prices at the pump followed a more than 20% decline in the price of crude oil -- the main ingredient in gasoline.
 
Oil prices have declined as commodities investors worry that the high price of fuel is causing drivers and businesses to cut back on the use of gasoline and diesel fuel.
 
Those concerns have driven gas prices below $4 a gallon in all but two states: Alaska, where gas was selling at $4.546 a gallon, and Hawaii, where gas was $4.393 on average.
 
The lowest gas prices were found in Missouri at $3.424.
 
Gas prices can vary from state to state due to differences in state and local gasoline taxes, and proximity to oil and gas facilities around the Gulf of Mexico.
 
Despite the drop in price, gasoline remains more than 33% more expensive than it was last year, according to AAA
 





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