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Gas Prices Fall for 10th Week in a Row

Weekly Energy Information Administration survey shows prices may soon fall below $3.50 per gallon.

By Joshua Condon Jun 19, 2012 10:39AM
Photo via Consumer Reports.Good news for drivers heading into the summer travel season, usually the time for skyrocketing fuel prices: The cost of gasoline has dropped for the 10th straight week, to $3.589, according to the Energy Information Administration's weekly survey. That's a significant drop from the same week's price of $3.76 in 2011, as well as from last week's $3.629.

According to AAA's daily survey, the national average price for a gallon of regular gas today fell below $3.50 -- the first day since Jan. 30 to see prices fall so low.

Not everyone is being spared, however: While the lower Atlantic region is paying a mere $3.301 per gallon, California -- considered its own "region" in the weekly survey -- still shows average prices above $4.

Analysts point to the struggling world economy, specifically the eurozone crisis, for driving down the price of oil. For those planning a road trip this summer, it's a welcome side-effect of a bad situation.

[Source: USA Today.]
746Comments
Jun 19, 2012 3:44PM
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Central Iowa is $3.39 today.  A week ago it was $3.19.
Jun 19, 2012 3:43PM
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The only reason the gas prices have dropped is because there is an election coming up. Just wait till that's over oh boy were in for a wake up call then.
Jun 19, 2012 3:40PM
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Obama is walking the tight rope between wanting prices to go down a little and get re-elected and not pissing off the environmentalists.
Jun 19, 2012 3:40PM
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While the lower Atlantic region is paying a mere $3.301 per gallon......................WTF ?????  "a mere $3.301 per gallon" ???????    Since when is $3.30 per Gallon considered insignificant ?  Yes, it's cheaper than what Californians always pay, but it still is painful. Wouldn't be so bad if food, medicine, insurance of every kind and pretty much everything else wasn't so high too.
Jun 19, 2012 3:39PM
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Check ALASKA! The prices have never gone down since they started going up. $4.96 per gallon anyone?
Jun 19, 2012 3:38PM
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santo-nino, Europe and Australia produce very little fuel and are totally dependant on other countries. The US HAS the resources and doesn't use them.  How stupid is that?
Jun 19, 2012 3:38PM
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yep not in maui, gas here is going @ $4.86 a gallon, not much less than the last 5weeks its been $4.89!! for regular...
Jun 19, 2012 3:36PM
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Like usual whoever wrote this article isn't paying attention to other parts of the country.I paid 3.09$ a gallon in San Antonio,Texas today for regular.Another reason,probably, oil is going down is that Iraq is selling oil on the world market now for the first time in 20 years.So when the oil industry later claims there is a shortage of oil and the price skyrockets it's they're usual ****.......
Jun 19, 2012 3:36PM
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Gas is 3.08 a gallon in Tennessee looking for below three dollars as price has dropped again.

Jun 19, 2012 3:36PM
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its election year so the prices will go down and we normally have jobs election year but where are they !!!!!! One person said WE NEED A CHANGE !!!!! that is his words !!!! But where they heck is itit is a change it is all to the bad so we need to get someone else in office. this happens every year there is an eltion. By the way gas was cheaper alot cheaper when he took office know look at the price of gas, I suggest we get out and vote that  person out of office and put in someone that  cares

 

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