Gas prices: Five-year low and falling

Gas prices fall for the ninth consecutive day.

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New York (CNNMoney.com) -- Gas prices fell for the ninth consecutive day, according to a survey of credit card swipes at service stations across the nation released on Sunday.

The national average price dropped for its ninth consecutive day to $1.627 a gallon, down 0.3 cents from the previous day, according to the motorist group AAA.

The national average last hit close to the current price on February 5, 2004, when it averaged at $1.627.

Prices are down 60% from the record high of $4.114 a gallon touched on July 17.

Gas is below $2 in all 48 contiguous sates and the District of Columbia, according to AAA. The highest average gas price was in Alaska ($2.52), while the cheapest was found in Missouri ($1.44).

The AAA figures, compiled by Oil Price Information Services, are state-wide averages based on credit card swipes at up to 100,000 service stations across the nation. To top of page

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