The cost of a gallon of regular unleaded gas dipped to $2.99 a gallon Wednesday on Bainbridge Island — the first time in more than two years that the price has fallen beneath the $3-a-gallon mark.

The local price was below the national average, which stood at $3.02 a gallon on Oct. 29. The Bainbridge price was also well below the average cost in Washington state, which was $3.21 on Wednesday.