Gas Hits 5-Year Low
$1.66 a gallon average is cheapest since February 2004
By Newser Editors and Wire Services
Posted Dec 21, 2008 7:06 PM CST
Falling gas prices are welcomed by customers, but some small independent service station owners say that they can't keep up with the market because of their low volume and how they purchase fuel.    (AP Photo/Carolyn Kaster)
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(Newser) – The average national price of gasoline fell 9 cents in the past two weeks, bringing it to its lowest point in nearly five years, according to a national survey released today. The average price of regular gasoline Friday was $1.66 a gallon. The price of mid-grade was $1.80 a gallon, while premium was $1.92 a gallon.

The last time gas prices dipped so low was in February 2004. The all-time high was on July 11, 2008, when the price peaked at $4.11 a gallon. Of cities surveyed, the nation's lowest price was $1.37 in Cheyenne, Wyo., and the highest price was $2.41 in Anchorage, Alaska. In the continental US, the highest price was on New York's Long Island, at $1.92.