Global economic slowdown pummels gas prices down in Utah, nation -- Gasoline prices are dropping in Utah and around the nation as crude oil prices take a beating from the global economic downturn, according to a AAA Utah report on Tuesday. Crude oil prices plunged to the $80-a-barrel range, down from $106 a barrel last month.

"Factors pushing down the price of oil are the decreased demand for gasoline in the United States and Europe, the strengthening of the dollar as Europe deals with its own lending crisis and an unusual drop in trading of energy futures," said Rolayne Fairclough, AAA Utah spokesperson.

"In addition to the economic crisis, sectors of the country with typically low gasoline prices saw prices surge as a result of supply issues caused by Hurricanes Gustav and Ike," Fairclough said. "The Southeast was the most impacted with supply problems and price disparity that caused problems for motorists and impacted the economic activity in the region. The situation has corrected itself with only North Carolina still having some supply troubles."

Nationally, the average price for regular, self-serve is $3.16, down 49 cents from last month, but 40 cents higher than a year ago.

South Jordan oil and gas company to issue 80 cents cash dividend -- Pioneer Oil and Gas of South Jordan will pay a one-time cash dividend of 80 cents a share to shareholders of record on Oct. 24. The dividends will be mailed or wire transferred on or before Nov. 12.