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Gas wars: A gallon is just 46 cents here

• http://www.cnbc.com

While gas prices are low nationwide, some stations are slashing the fuel's price to rock-bottom levels to the tune of less than 50 cents a gallon.

The drastic price cuts are part of a gas price war at three Houghton Lake, Mich., stations.

Gas pump

Athit Perawongmetha | Reuters

During the last three days, the prices dropped below a buck per gallon, falling as low as 46 cents at Sunrise Marathon. Meanwhile, the Beacon & Bridge gas station was as low as 47 cents, said employees of each station in interviews with CNBC.

A nearby Citgo says its prices slumped to 95 cents a gallon.

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There have been long lines at the stations for most of the weekend, according to the three stations, with police officers directing traffic in the area due to the congestion.

   

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