CNN reports that gas prices have fallen below the $2 a gallon mark according to the Lundberg Survey. It's the first time that gas prices have been this low since March 4, 2005 and it should provide some much need relief for drivers.
The average price of self-serve, unleaded gasoline on Friday in the United States was $1.97, said Trilby Lundberg, publisher of the Lundberg Survey. The last time the price was below $2 was on March 4, 2005, she said.
The all-time high average was $4.11, set on July 11, according to Lundberg, and prices have been dropping ever since.
"The rate of decline has slowed somewhat, but it is still dramatic at 33 cents in two weeks," she said.
Diesel prices averaged $2.93 on Friday, slumping under $3 for the first time since September 2007, she said.
That's much better than the extremely high prices many drivers have been facing over the past few years. We are past the peak Summer driving season but it is still lower than it has been even for the off-season.
Another source of fuel prices is the AAA's Fuel Gauge Report. They have the nationwide average gas price at $1.929. The AAA's data also shows that at this time one year ago the nationwide average gas price was $3.083 so gas now costs over a dollar less than it did one year ago.
