Survey: Gas prices near 5-year low

Average gasoline price has dropped 22 cents in the last weeks.

(CNN) -- The U.S. average for gas prices dipped to $1.75 a gallon, a near five-year low, a national survey said Sunday.

The
average price of self-serve gasoline dropped 22 cents in the past two
weeks, said Trilby Lundberg, publisher of the Lundberg Survey.

The average, tallied on Friday, was the lowest since the $1.74 average on March 12, 2004, Lundberg said.

Lundberg
attributed the price reductions to a drop in crude prices and demand.
Prices could drop more if the global economic crisis continues to
affect demand for crude oil.

The all-time high average was $4.11, set on July 11, according to Lundberg.