National gasoline prices dip below $4 a gallon

updated 9:39 a.m. ET July 28, 2008

CAMARILLO, Calif. - A national survey shows gas prices have dropped a fraction below the $4-dollar mark.

The average price of regular gasoline at self-serve stations was $3.996 a gallon Friday. Mid-grade was $4.13 a gallon and premium went for $4.24. That’s according to the Lundberg Survey of 7,000 gas stations nationwide, released Sunday.

Prices are at their lowest level since May 16 and are an average of 11.7 cents less per gallon than two weeks ago.

Still, the survey showed the average U.S. price for gas is $1.11 higher than it was a year ago.

Diesel was at $4.80.

The cheapest gas was in Wichita, Kan., where the price for regular was $3.61 a gallon.

Anchorage ranked the nation’s highest: $4.43 a gallon for regular.

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