Gasoline prices continued their fall during the past week, dropping 19 cents statewide to $3.079 a gallon for regular, according to AAA Hawaii.

The group said gasoline prices declined for a seventh week and that Honolulu prices slipped below the $3-a-gallon level — with yesterday's $2.961 average O'ahu price down 18 cents from a week earlier and 36 cents from the same time last year.

Gasoline prices have been plummeting as crude oil prices recede from the highs reached in July 11 of $147.27 a barrel. Yesterday, crude oil for December delivery touched $54.67 in trading, the lowest since Jan. 30, Bloomberg News reported. Analysts also are projecting that prices may fall further next week as fuel consumption continues to decline, Bloomberg said.

"This is continued great news for consumers and a good outlook heading toward the upcoming Thanksgiving holiday," said AAA Hawaii regional manager Richard Velazquez in a press release.

"The price of oil fell under $60 a barrel for the first time this week, which could bring us more dramatic relief."

Hawai'i's statewide average price remains the second-highest in the nation, after Alaska. The national average is $2.152. During the past year, Hawai'i's average prices have fallen more slowly than national prices, according to AAA data.

The Hawai'i average price is 27.5 cents a gallon lower than it was a year ago, an 8.5 percent decline.

The national average is 96 cents less, almost 31 percent lower.

Other figures released by AAA Hawaii: