average gas price 2008 us
As this year's recession deepened, demand for fuel waned, sending oil prices down more than $110, or 76% from July 11. Gas prices have dropped off 60% since they hit a record-high of $4.114 on July 17. Now, average gas prices are below $2 a gallon in all 48 contiguous states.Utah had the cheapest gas, averaging $1.463.s this year's recession deepened, demand for fuel waned, sending oil prices down more than $110, or 76% from July 11. Gas prices have dropped off 60% since they hit a record-high of $4.114 on July 17. Now, average gas prices are below $2 a gallon in all 48 contiguous states.