Gas Price Drops

UNDATED (AP) - The price of gas is down again.
Triple-A's daily Fuel-Gauge report puts the national average
price of a gallon of regular this morning at a fraction over $4.
That's down two cents from yesterday and is 11 cents better than
the all-time high a week ago.
Still, the pump price is more than a dollar-a-gallon higher than
it was a year ago.
This week's price decline reflects a drop in the price of crude
oil. It's climbed back up above $126 a barrel in Asia today. But
the price has fallen in six of the past eight sessions. It's now
nearly 15 percent below its peak earlier this month above $147 a
barrel.
Energy analysts point to a significant drop in demand. The
Energy Department says, over the past four weeks, Americans have
used nearly two and a-half percent less fuel than they did during
the same period a year ago.

(Copyright 2008 by The Associated Press. All Rights Reserved.)