New Jersey Gas Tax
An attendant at Shell gas station pumps gas for a motorist in Hasbrouck Heights, N.J. on October 26, 2016. Julio Cortez — AP

See How Fast Gas Prices Have Fallen In the Past 20 Days

Jun 22, 2017

Gas prices have been falling for 20 straight days and it's not stopping anytime soon.

The average price of gasoline is 10 cents less due to increased oil production rates, high gasoline inventory, and refinery rates, American Automobile Association (AAA) spokesperson Jeanette Casselano told Fortune. Consumer demand also seems to be down, with prices dipping as low as $2.25 in February. Prices "may very well drop lower than that in the coming days," Casselano added.

Already, June's gas prices are at a historical low for the summer travel season. Though it will likely raise a few cents due to the anticipated uptick in travel for the Fourth of July weekend, according to Casselano. The AAA forecasts more than 44 million Americans will travel at least 50 miles away from their homes to celebrate Independence day, a record high.

That said, Fourth of July isn't enough to keep prices up at the pump.

"If consumer demand does not sustain or increase beyond the holiday, prices will likely drop back down," Casselano said.

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions