Real Gas Prices Lowest Since January 2004

The cheapest gas in the country can be found in Kansas City and St. Louis for as low as $1.33 per gallon, and the national average retail price for gas is now down to $1.83 per gallon. Without the high-priced states of Alaska ($2.68) and Hawaii ($2.73), the national average for the other 48 states is down to $1.79 per gallon.

Using real gas prices from the EIA (in November 2008 dollars), the chart above (click to enlarge) shows how today's gas prices compare to past prices.

The last time real gas prices (national average) were as low as $1.83 per gallon was almost five years ago in January of 2004, and the last time real gas prices (national average) were as low as $1.33 per gallon (current Kansas City low price) was almost seven years ago in December of 2001 (see chart above). Gas prices in Kansas City are within 12 cents per gallon of the lowest-ever real gas price of $1.21 per gallon in February of 1999.