Gas Prices Lowest in Year

Lower gas worth $1000 a year for families
By Peter Fearon,  Newser Staff
Posted Oct 21, 2008 2:14 AM CDT
A man fills up his SUV with gasoline in Troy, Michigan. Behind him, the good news about gas prices.   (AP Photo/Paul Sancya)
camera-icon View 2 more images

(Newser) – The price of gasoline has dropped to its lowest level in a year, Reuters reports. The national average price for a gallon of regular unleaded is $2.91, a drop of 57 cents per gallon in just the last two weeks. Gas is most expensive in San Francisco, at $3.49 a gallon, but is under $3 in most major cities. 

Diesel prices have also dropped. Falling gasoline prices act like a tax cut for most American families. By shaving $30 off the cost of filling up the tank of an average SUV from July's record high price of $4.11, a family could expect to save about $1,000 a year.