Gas prices continue spiral downward

It's official: the price of gas at the Chevron station I've been watching for months has been halved from its summer high. Back in July, the price was $4.73 for a gallon of regular. This morning, the price was $2.359 for that same gallon. The station is located at the corner of Hill and Colorado in Pasadena.

The Energy Information Administration on its website has weekly average gas prices going back to 1990, but I couldn't find another occasion when the price fell by half. In the past 18 years, most of the price dips were on the order of 20% or so.

Another remarkable threshold: the national average for a gallon of regular is now $1.989, according to AAA. The last time that the average price for a gallon of regular was under $2 a gallon was in early March 2005, according to the EIA statistics.

-- Steve Hymon

Photo credit: Steve Hymon / Los Angeles Times

Comments

[Chris Bucka]

Garo gas on Washington is in a price war right now with another sole-prop station. 1.76 last time I heard!!

[Susan]

1.65! 1.65! 1.65!

I couldn't wait to tell someone who didn't know it.

Lindale, TX, home of cheap gas and, um, well, we have cheap gas in Podunk, so there! :-)