Bay State gas prices have dropped four cents since last week, as Northeast gas prices notch a fifth straight week of declines on growing inventories and uninspired demand.

The average gas price in Massachusetts is down to $3.47 per gallon, according to AAA Northeast. Monday’s price was 11 cents lower than a month ago ($3.58), and is six cents lower than June 10, 2023 ($3.53).

The state’s average gas price is three cents higher than the national average.

“Drivers will appreciate cheaper gas in June as supply continues to outpace demand, but market watchers should keep their eyes peeled on the Atlantic Ocean in addition to the current price at the pump,” said Mark Schieldrop of AAA Northeast, noting that oil and gas markets are bracing for what could be a record hurricane season.

It might require a hurricane to cause gas prices to change direction, based on current market conditions. Last week, domestic crude oil and gasoline inventories rose by 1.2 million and 2.1 million barrels respectively, according to the Energy Information Administration.

At the same time, gasoline demand slipped 2.2% to 8.9m barrels a day, which is not unusual for the post-Memorial Day period, but a larger drop than in recent years.

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Moderna’s COVID-flu combo vaccine has positive results

Moderna has announced that its COVID-flu combo vaccine showed positive results in its Phase 3 trial.

The vax elicited higher immune responses against the flu and COVID than licensed comparator vaccines in adults 50 years and older, according to the Cambridge company.

“Combination vaccines have the potential to reduce the burden of respiratory viruses on health systems and pharmacies, as well as offer people more convenient vaccination options that could improve compliance and provide stronger protection from seasonal illnesses,” said Moderna CEO Stephane Bancel.

“Moderna is the only company with a positive Phase 3 flu and COVID combination vaccine,” Bancel added. “Building on the momentum of positive Phase 3 data across our respiratory portfolio, we continue to address significant unmet medical needs and advance public health.”