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Gas prices slow and steady

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Even though oil prices increased $2 overnight as the conflict between Russia and Georgia heightened, gas prices dropped for the 25th consecutive day, falling more than 7 percent from their July 16 record high of $4.114 per gallon, CNNMoney.com reported.

Despite the increase in oil prices, they are approximately $30 below the record $147.27 per barrel that was reached one month ago today on July 11, and gas prices have declined for more than three and a half weeks.

A survey of gas station credit card swipes showed Monday that the national average price for a gallon of regular gas fell to $3.81 from $3.818 a gallon the previous day, AAA said. However, gas prices still remain $1 higher than a year ago.

AAA bases its survey on credit card swipes at 85,000 fuel stations around the country and found that gas remains above $4 a gallon in nine states.

However, the national average for a gallon of ethanol-blended fuel, E85, fell 0.2 cent to $3.09 a gallon, AAA reported. The average price for diesel fuel fell to $4.537 a gallon from $4.557 the day before.

But some states are paying more than others. In Alaska, the state with the highest prices, drivers paid an average of $4.604, which was approximately 3 cents lower than the previous day. Hawaii, the state with the second-highest prices, saw average prices fall slightly to $4.444 from $4.45 a gallon.

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