National

Gasoline prices plummet — and are expected to drop further

Gasoline prices are dropping at a rate the state has never experienced before: a $2 decline in two months for a gallon of regular.

On Sept. 15, the N.C. average for regular peaked at $4.08 a gallon. Sunday, it was $2.07. And it likely will be less today.

"After all the bad economic news we've had, isn't that a wonderful sound?" AAA Carolinas spokesman Tom Crosby said Sunday. "This is really a precipitous drop. And there's no reason why it shouldn't continue."

Some stations in Charlotte were selling regular for $1.99 a gallon, some less. In South Carolina, which boasts some of the nation's cheapest gas, it wasn't hard to find stations in Rock Hill selling regular for $1.81 and premium for $2.02.

In October, Americans drove 11 percent less than in October 2007. Crude oil hit a 20-month low last week, dragging down gas prices.

Read the full story at newsobserver.com.

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