The Car and Truck Fleet and Leasing Management Magazine

Dec. 3 Report: Average Gasoline Price Below $2/Gallon in All Major Regions

December 03, 2008

WASHINGTON, D.C. --- For the first time since Jan. 31, 2005, the average price of regular gasoline slipped below $2 a gallon in all major regions of the country, the Energy Information Administration (EIA) reported Dec. 3.

The national average dipped 8.1 cents to $1.811 per gallon. The price is now $2.303 below the all-time high set on July 7 of this year and $1.25 lower than the price a year ago.

The average price on the East Coast fell 9.3 cents to $1.86 per gallon.

Although the price slipped only 3.3 cents, at $1.717 per gallon, the average price in the Midwest was again the lowest of any region, the EIA reported. The average price on the Gulf Coast was $1.732 per gallon, reflecting a drop of 7.3 cents.

In the Rocky Mountains, the price fell 10.9 cents to $1.738 per gallon. The price on the West Coast plunged 14.5 cents, the most of any region, to $1.972 per gallon -– falling below $2 a gallon for the first time since January 31 of 2005. The price in California tumbled 15.7 cents, hitting $1.955 per gallon, also the first time that price was below $2 a gallon since January of 2005. 

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