Gas prices steady as we slide toward the Fourth of July

Summer Kicks Off With Lower Gas Prices in Florida

The average price of a gallon of regular in California dipped below $3 last week and was at $2.96 on Monday, 14 cents lower than a month ago, according to a report by AAA that cited continued low prices for crude oil as a major factor. It attributes the drop to high rates of refinery production, plus high inventory of gas and crude oil. The region's average is down 11.6 cents from a month ago, the AAA data shows.

While the nation's average gas price was almost an all-time low for the year at $2.26 on Monday, Californians are paying the second-highest price in the nation at $2.96, behind only Hawaii at $3.05, according to AAA. That's six cents below the national average of $2.26.

Tennessee- $1.99, down 3.5 cents per gallon from last week's $2.03.

The first few weeks of the summer travel season have seen the lowest prices in 12 years for this time of year. Monday marked the 23rd consecutive day of falling prices, travel club AAA said in its weekly gas price update. USA shale oil producers that have ramped up output in recent months, balancing out efforts by OPEC and Russian Federation to limit supply and drive up prices.

Motorists should be on the look out for $2 a gallon gasoline, because even as the Fourth of July holidays approach, it's nearly here. Oil prices are having a hard time stabilizing amid fears that oversupply will continue dominating market.

It may be a distant memory, but in November 2016, as the Thanksgiving holidays approached, a few stations in Palm Beach County were offering gasoline for $1.99, cash price.

"If wholesale prices predict retail, and I do believe they do, we're poised for some very cheap gas ahead", Kloza said.

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