The average price of regular gasoline at US pumps has dropped across the country.

Decreasing demand as a result of the global economic downturn, saw gasoline prices fall 17 per cent, or 28 cents.

The latest figures from market research firm Trillby Lundberg revealed that the cheapest gasoline was to be found in Tulsa, where the cost was $1.89 a gallon. Alaska had the most expensive gasoline at $3.14.

Lundberg told Bloomberg that "the price crash was caused by lower crude oil prices and lower gasoline demand".

The analyst added: "There has never been a price crash of this magnitude."

Crude oil prices have also plummeted from the high of $147 a barrel in July.

The fuel is currently trading at $63 a barrel, a $2 rise which followed announcement by Saudi Arabia that it would cut December supplies to Asia.

Following an agreement made by the Organisation of Petroleum Exporting Countries, the kingdom said it would cut supplies by five per


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