For the first time in more than three-and-a-half years, the average price of gasoline fell below $2 a gallon, according to a national survey released Friday.
The nationwide average price dropped to $1.989 a gallon, down from $2.02 on Thursday, according to motorist group AAA, which bases its information on credit card swipes from up to 100,000 service stations.
This is the first time that gas has dipped below $2 a gallon since March 9, 2005, when the nationwide average was $1.9932, according to Ben Brockwell, director of data and pricing services for Oil Price Information Services.
OPIS tracks fuel prices in conjunction with AAA and Wright Express, an information provider for the commercial and government vehicle fleet industries.
Inexpensive gasoline stands in stark contrast to this summer's record high prices, which sparked a plunge in sales of pickups and sport utility vehicles, became a headline issue in the presidential campaign and provoked widespread public outrage.
The nationwide average price of unleaded hit its all-time high of $4.114 a gallon on July 17, 2008 - or more than double the current price.
"This summer, we thought [gas for $2 a gallon] was impossible, and now we have crossed the threshold," said Brockwell. "It's an important psychological barrier."
Of course, lower gas prices will help drivers, but Americans are suffering from a troubled economy marked by mounting job losses and rising unemployment
The nationwide average price dropped to $1.989 a gallon, down from $2.02 on Thursday, according to motorist group AAA, which bases its information on credit card swipes from up to 100,000 service stations.
This is the first time that gas has dipped below $2 a gallon since March 9, 2005, when the nationwide average was $1.9932, according to Ben Brockwell, director of data and pricing services for Oil Price Information Services.
OPIS tracks fuel prices in conjunction with AAA and Wright Express, an information provider for the commercial and government vehicle fleet industries.
Inexpensive gasoline stands in stark contrast to this summer's record high prices, which sparked a plunge in sales of pickups and sport utility vehicles, became a headline issue in the presidential campaign and provoked widespread public outrage.
The nationwide average price of unleaded hit its all-time high of $4.114 a gallon on July 17, 2008 - or more than double the current price.
"This summer, we thought [gas for $2 a gallon] was impossible, and now we have crossed the threshold," said Brockwell. "It's an important psychological barrier."
Of course, lower gas prices will help drivers, but Americans are suffering from a troubled economy marked by mounting job losses and rising unemployment
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