The national average price of gas dropped -5.3 cents to $3.09. The national average is down -1.1 cents from a month ago and down -37.4 cents from a year ago. The national average price of diesel has decreased 3.2 cents in the last week and stands at $3.644 per gallon. The median U.S. gas price is $2.99 per gallon, unchanged from last week and about -10 cents lower than the national average.

• GasBuddy: “Nearly every state saw average gas prices decline for the second straight week, even as the nation celebrated July 4 with the lowest national average for Independence Day since 2020. That downward momentum may continue, as OPEC’s weekend decision to boost production by a larger-than-expected 548,000 barrels per day in August adds further pressure to oil prices — potentially accelerating supply builds. If tensions in the Middle East remain contained and the Gulf is spared from major hurricanes, the odds are improving that the national average could dip below $3 per gallon later this summer, but in the meantime, we could see the national average falling to its lowest summer level since the pandemic.”