The average price of unleaded has not been that low since December 2008, when a gallon of regular unleaded dropped to $1.689 as the global economic crisis weakened demand. (That $1.689 in December 2008 was the lowest average price for a gallon of regular unleaded since March 2004, near the end of Bush's first term.)
 
BLS said the drop in energy prices last month, led by gasoline, was the main reason for the seasonally adjusted 0.2-percent decline in the Consumer Price Index for All Urban Consumers (CPI-U).

The gasoline index (all types, not just unleaded) fell sharply, declining 13.0 percent in February, and the indexes for fuel oil and electricity also decreased, although the index for natural gas rose 1 percent.