Gas prices dropped below a national average of $3 a gallon over the weekend, while energy futures had their own decline on Monday on suggestions that OPEC may increase its output.

At the pump, the average national price of a gallon of gasoline dropped to $2.968 on Monday, down 3.6 cents since Friday, according to AAA and the Oil Price Information Service. August gasoline futures fell 5.03 cents Monday to $2.1143 a gallon on the Nymex. Retail prices typically lag the futures market.

In the Valley, the average price for a gallon of regular gas was $2.763 Sunday, down from $2.943 one month ago.

Drivers in Flagstaff have not seen prices drop below the $3 landmark.

In that northern Arizona town Sunday, the average price of a gallon of regular gas was $3.045. That was down from the average of $3.175 one month ago.

azcentral.com