To be precise, $2.741 in the L.A. area, according to the latest government survey - just in time for the Labor Day weekend. Prices have been falling for much of the summer, largely because refineries stepped up production. Refinery production is a very big deal in determining how much we pay for gas – actually more important than the price of oil. The betting is that prices won't fall a whole lot further, but that they won't jack up either. That's assuming there aren't any hurricanes or massive refinery outages. (EIA)