Local gas prices are mostly staying put ahead of the Fourth of July after a tumultuous week for oil and gas markets amid the conflict in the Middle East.

The average gas price in Massachusetts on Monday was down a penny from last week ($3.08), averaging $3.07 per gallon.

As drivers head into the Fourth of July holiday travel period, local pump prices remain considerably lower than this time last year.

“Recent geopolitical events showcased the volatile nature of oil and gas markets, but right now supply and demand are the primary factors impacting how much it costs to fill our tanks,” said Jillian Young, of AAA Northeast.

“While regional pump prices are up slightly from a month ago, they remain more than 35 cents lower per gallon than this time last year — great news for those heading out for Fourth of July road trips,” Young added.

Massachusetts’ average gas price is 11 cents lower than the national average ($3.18).

Mississippi and Oklahoma have the lowest prices in the nation at $2.71 and $2.73, respectively. California and Hawaii hold the highest prices in the nation this week at $4.59 and $4.47, respectively.

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The Energy Information Administration last week reported a third straight weekly increase in gasoline demand, which rose nearly 400,000 barrels a day over the prior week — in line with expectations for strong demand typically seen in early summer.

That higher demand was a factor in national inventories of gasoline declining by 2.1 million barrels in total, according to the EIA, which might put additional upward pressure on pump prices.

But in the Northeast, regional inventories actually increased by just over 2 million barrels, bucking the national trend. Regional supplies are now up 3.2 million barrels over last year, and comfortably positioned ahead of the July 4 holiday and the next few peak weeks of the summer driving season.