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Gas Prices Continue To Tumble
Gas prices have dropped to less than $2 a gallon in parts of the country and some of the cheapest gas anywhere is in South Texas.
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(October 27, 2008)—Gas prices have dropped to less than $2 a gallon in parts of the country, and some of the cheapest gas anywhere is in South Texas, where a gallon of regular unleaded is going for as little as $1.93 or $1.94 a gallon at stations in Harlingen, Brownsville and Edinburg, according to Texasgasprices.ocm
Nationally, the price of a gallon of gas has dropped more than 25 cents in the past week to an average of about $2.67 a gallon.
A report the U.S. Energy Information Administration released Monday afternoon shows the Gulf Coast had the cheapest prices with an average of $2.46 a gallon, down 27.4 cents in the past week.
The Midwest was next lowest at $2.497, followed by the East Coast ($2.684), the Rocky Mountain region ($2.762) and the West Coast ($3.05).
Nationally, the EIA reports the average selling price for diesel fuel was $3.288, down 19.4 cents in the past week.
Gasoline prices have been sliding as oil prices have dropped to the lowest level in more than a year, dipping below $62 a barrel at one point Monday.
Oil prices have plunged 57 percent from a record $147.27 on July 11th.
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