$3 gas could be around the corner

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.

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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.

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