Breaking News
More () »

Gas prices are finally falling. Here's how low they could go

The national average for gas has gone down nearly 40 cents from June's record high, AAA said. How long can we expect prices to keep falling?

CHARLOTTE, N.C. — Drivers are finally catching a break at the pump as gas prices continue to fall from record highs across North Carolina and South Carolina. 

Some drivers have reported seeing prices at or below $4 a gallon, which is a big drop from where they were just a few weeks ago in many parts of the region. Experts say those gas prices will continue to drop, depending on a few factors. How long can we expect prices to fall and just how low will they get?

Let's connect the dots. 

Click here to sign up for the daily Wake Up Charlotte newsletter

Gas prices falling

After several months of soaring prices at the pump, the cost of gasoline appears to be falling steadily. According to AAA, the national average price of gas has fallen just under 40 cents in the last month after June's historic highs. 

The current average price of gas in North Carolina is $4.25, while South Carolina drivers are paying an average of $4.11. 

Just last week, the price of crude oil dropped below $100 a barrel for the first time since May. 

Under $4 a gallon

Drivers could see gas prices dip below $4 in the coming weeks. Experts at GasBuddy say the Carolinas, along with several other Southern states, will see the biggest drops in price. 

How long will it last? 

As long as there aren't any unexpected outages or disruptions in oil production, like a major hurricane, officials say the national average could drop another 25 to 50 cents. 

This could lead to major savings for folks who have no choice but to drive to work or school. 

You can stream WCNC Charlotte on Roku and Amazon Fire TV, just download the free app.

Wake Up Charlotte To Go is a daily news and weather podcast you can listen to so you can start your day with the team at Wake Up Charlotte.   
SUBSCRIBE: Apple Podcasts || Spotify || Stitcher || TuneIn || Google Podcasts   

All of WCNC Charlotte's podcasts are free and available for both streaming and download. You can listen now on Android, iPhone, Amazon, and other internet-connected devices. Join us from North Carolina, South Carolina, or on the go anywhere. 

Before You Leave, Check This Out