Los Angeles gas prices: Cost of a gallon drops for 57th day in a row

LOS ANGELES (CNS) -- The average price of gasoline in Los Angeles County decreased Wednesday for the 57th consecutive day since hitting a record high back in June

The price of a gallon of self-serve regular gasoline in LA County was $5.429 on Wednesday. That was a drop of 2.9 cents from the day before and it marks the lowest amount since March 7.

The average price has dropped $1.033 since rising to a record high of $6.462 on June 14, according to figures from the AAA and the Oil Price Information Service.

The price is now 17 cents less than it was one week ago and 72.8 cents lower than one month ago. But after the series of sharp increases earlier this year, the current price still remains $1.05 higher than it was one year ago.

The Orange County average price also decreased for the 57th consecutive day, dropping 3.2 cents to $5.304, its lowest amount since March 6. It is 19.3 cents less than one week ago and 76.5 cents lower than one month ago, but 95.5 cents more than one year ago.

The Orange County average price has dropped $1.104 over the past 57 days and $1.106 since rising to a record $6.41 on June 12, including 3.6 cents Tuesday.

The national average price dropped for the 57th consecutive day since rising to a record, decreasing 2.3 cents to $4.01. It has dropped $1.006 since rising to a record $5.016 on June 14.

The national average price is 15.3 cents less than one week ago and 67.4 cents lower than one month ago, but 82.4 cents more than one year ago.