Gasoline prices, despite a number of analysts' fears, have stabilized as the military situation in Iraq calms down. Militants, who have taken over large parts of the north of the country, including a number of refineries, appear to be at a stalemate.
This has led the national average price for a gallon of gas in the United States to stay stable, with a potential dip possibly ahead.
Most reports indicate if the situation in Iraq remains the same, and there are no major hurricanes or refinery problems, gas prices should drop throughout the summer.
"Stabilizing crude oil prices over the past few weeks have led to 'Christmas in July' for motorists at the gas pumps," said Jana Tidwell, public affairs specialist for AAA Mid-Atlantic.
"Motorists looking to take advantage of the peak summer driving season are enjoying relief at the pump, the lowest prices in three months, that could continue into the coming weeks should crude oil prices stabilize and unforeseen circumstances remain at bay."
Gasoline prices have fallen some four cents over the past few weeks as crude oil costs continue to see drops, according to new information from a Lundberg survey.
According to the survey, the national average for a gallon of gas is at $3.67. Other reports also indicate that by Labor Day the price could be at its annual low, making late summer road trips a lot more manageable for families.
"Crude prices have dropped in reaction to Libya having sizably hiked its oil production, and because Iraq's oil output has not been smashed by violence and turmoil there," said Trilby Lundberg, publisher of the survey.
The San Francisco Bay Area remains at the highest price for a gallon, with the region coming in at an average of $4.12 per gallon. The lowest price was found in Tulsa, Okla., where gas was retailing at $3.35 a gallon.
