NEW YORK --- The national average price for self-serve, regular unleaded gas, weighted by state, was $1.7526 a gallon on Dec. 5, the lowest price since March 2004 when it was $1.7382, Reuters reported.
These figures are based on a Lundberg survey of about 5,000 gas stations.
In July, regular gasoline reached its all-time high price of $4.124 a gallon.
"Crude oil prices have crashed; crude oil is the king of petroleum products prices and all other forces follow," survey editor Trilby Lundberg told Reuters, adding that in the past two weeks crude oil prices fell $9.12 per barrel to $40.81.
At $2.54 a gallon, Anchorage, Alaska, had the highest average price for self-serve, regular unleaded. The lowest price per gallon was $1.36 in Cheyenne, Wy., the survey reported.