Gasoline Prices Fall Near Four-Year Low
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The national average price for gasoline has fallen to the level it reached four years ago as it reached $3.459 per gallon for the week ending Sept. 1, according to federal data.
Gasoline prices have touched similar levels several times since late 2011, when it fell below $3.50 per gallon in October of that year and stayed below that benchmark until February of 2012. It also fell below that level in late 2012 and late 2013. Prior to 2011, gasoline cost below $3 per gallon on average.
For the week ending on Labor Day, the average price of a gallon of regular unleaded rose five-tenths of a cent. It now costs 14.9 cents less than it did a year ago. The price of gasoline fell in five of the regions tracked by the U.S. Energy Information Administration, rose in three regions, and was flat in New England.
The average price of gasoline in now at least $3.50 in 18 states and the District of Columbia, according to AAA's Daily Fuel Gauge Report.
Meanwhile, the average price of diesel also fell during the week to $3.814 cents per gallon marking a seven-tenths cent decline. Diesel now costs 16.7 cents less than it did a year ago.