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Monday
Jul012013

Gas Prices Down 8 Cents 

iStockphoto/Thinkstock(WASHINGTON) -- Drivers hitting the road for the Fourth of July are getting some good news in the form of gas prices. The U.S. Department of Energy says the national average price for regular unleaded gas dropped to just under $3.50 a gallon, down eight cents compared to last week.  The week before that, the average price for regular unleaded was $3.62.

The Midwest got the most relief as the month of July kicks off. Prices in the central part of the country dropped 15 cents a gallon as refineries that had been shut down finally came back on line.

Oil industry analyst Tim Kloza says domestic oil production should keep prices in check, and that he expects prices to continue to fall.

"We're not going to see below two [dollars], but I don't think we're join to see above four [dollars] for any sustained period of time either," Kloza said.

Kloza added that he expects further price drops the last three months of the year.

Copyright 2013 ABC News Radio