Drivers looking to travel for Independence Day will have less pain at the pump this year as gas prices continue to fall.

According to a press release from AAA East Central, the average gas price in the Mahoning Valley is 11 cents lower than last week at $3.412 per gallon compared to last week's $3.526 per gallon and last year's $4.860 per gallon.

AAA East Central cites low oil costs as the reason for this price decrease. Oil prices continue to decline due to market concerns about the U.S. Federal Reserve resuming interest rate increases, which could tip the economy into a recession.

According to the latest data from the Energy Information Administration (EIA), gas demand slightly increased from 9.19 million barrels per day to 9.3 million barrels per day last week.

Meanwhile, total domestic gasoline stocks increased by 500,000 barrels to 221.4 million barrels. The EIA also reports total domestic crude inventories decreased by 3.8 million barrels to 463.3 million barrels last week.