US gasoline prices continue to fall, and they could keep falling, raising the possibility of gas below $3 a gallon in much of the country before the end of the year.

The national average for a gallon of regular gas stood at $3.96 Monday, down only a fraction of a cent from where it stood on Sunday. Still that decline maintained a streak of 62 consecutive days of falling gas prices.

The average national price has fallen $1.06, or 21%, since hitting a record high of $5.02 a gallon on June 14.

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The average price is somewhat inflated by some high-priced states, such as California, where the average is $5.37 a gallon. The national median price, which is the price at which half the nation's gas stations are selling for more and half are selling for less, is down to $3.80 a gallon.

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Pretty much every state is enjoying the relief from higher prices. Even in states with high gas prices, such as California, the average price is down more than $1 a gallon since the peak in June.

In 28 states, the average price of regular is now $3.99 or less. Roughly two-thirds of 130,000 gas stations nationwide are selling for less than $4 a gallon. And many are selling for much less than that. About 25% of stations nationwide are selling gas for less than $3.50 a gallon.

As students start to return to school, and the summer driving season comes to an end, the price of gas is likely to decline even further, said Tom Kloza, global head of energy analysis for OPIS, which tracks prices for AAA. He said it's very possible that by September or October, the national average for regular could be back below the $3.53 a gallon mark where it stood when Russia invaded Ukraine in late February.

US gasoline prices continue to fall, and they could keep falling, raising the possibility of gas below $3 a gallon in much of the country before the end of the year.

The national average for a gallon of regular gas stood at $3.96 Monday, down only a fraction of a cent from where it stood on Sunday. Still that decline maintained a streak of 62 consecutive days of falling gas prices.

The average national price has fallen $1.06, or 21%, since hitting a record high of $5.02 a gallon on June 14.

*

The average price is somewhat inflated by some high-priced states, such as California, where the average is $5.37 a gallon. The national median price, which is the price at which half the nation's gas stations are selling for more and half are selling for less, is down to $3.80 a gallon.

*

Pretty much every state is enjoying the relief from higher prices. Even in states with high gas prices, such as California, the average price is down more than $1 a gallon since the peak in June.

In 28 states, the average price of regular is now $3.99 or less. Roughly two-thirds of 130,000 gas stations nationwide are selling for less than $4 a gallon. And many are selling for much less than that. About 25% of stations nationwide are selling gas for less than $3.50 a gallon.

As students start to return to school, and the summer driving season comes to an end, the price of gas is likely to decline even further, said Tom Kloza, global head of energy analysis for OPIS, which tracks prices for AAA. He said it's very possible that by September or October, the national average for regular could be back below the $3.53 a gallon mark where it stood when Russia invaded Ukraine in late February.