The 4th of July is a week away, and we've got a big road trip weekend coming up.  It's been feeling like gas prices may hit the $3 per gallon mark, but now we have reasons why that will NOT happen.  Yay!

Gas prices fluctuate based on supply and demand, and as we all know our wallets and bank accounts have to go with that flow.  It can make us a little edgy.  But here's some good news.  When supplies are up and gas is abundant, prices go down, and that's what is about to happen, according to Marketwatch.

The Organization of Petroleum Exporting Countries (OPEC) said last week that members had agreed to scale back production cuts that started in 2016. All together they'll produce 624,000 more barrels of crude oil per day now, and with more supply in the world that should send gas prices down.  A little bit.

The $3 mark makes everyone especially nervous, and it looks like we'll stay under that this summer.  Nationally, Gas Buddy prices have been averaging about $2.90 per gallon so far this summer.  It has been over $3 per gallon in some of the higher-priced states like California and Hawaii, but in Texas we've stayed between $2.60 and $2.90 for the most part.  The word is that gas prices could drop ten cents or so with the news of the boost in production.  So not a ton, but every little bit helps.

This time last year we were livin' the dream.  Gas prices were the lowest they had been in twelve years for the 4th of July travel period, and about fifty cents lower per gallon than they are now.  I guess it couldn't last forever.  Or even a year.

No matter what the price at the pump, it's probably not going to stop us from taking that 4th of July road trip.  But it's nice if gas prices are lower and we have a little more cash to spend on brisket, American flags, and frosty beverages and things.  And fireworks.

Click HERE for Lufkin gas prices on Gas Buddy, then crank up the radio and have a fun, and hopefully cheaper ride.

More From Newstalk 860