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  PUBLISHED: 11/19/2008 12:28 AM | Print | E-mail | Viewed: times

How low will gas prices go?




How low will gas prices go?
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Gas was a whopping $1.46 a gallon at the Kent's Korner Exxon Station on Robert M. Bell Parkway Wednesday.

Lines were formed at each pump throughout the parking lot as many local residents sought to purchase gas for one of the lowest prices seen in years in this area.


Marc Wright said he waited in line for about 10 minutes just so he could take advantage of the price dip.

"I am amazed," he said as he fueled his truck. "I almost drove by this place but when I saw the sign, I couldn't pass it up."

Carol Gifford, a spokeswoman for AAA Carolinas, said gas prices are continuing to decrease nationally. The national average for unleaded fuel Tuesday was $2.07, down two cents from Monday's average price, said Gifford.

South Carolina also saw a drop in its state average, down to $1.93 on Tuesday; a penny below Monday's average according to Gifford. The AAA spokeswoman said it has been a while since South Carolina has seen gas prices drop below $2. She said the last time was in early 2007 when the state enjoyed a two-week period when prices averaged about $1.99 per gallon. Fuel prices are continuing to drop due to a decrease in demand, said Gifford. She said with the state of the economy, a lot of people are concerned with keeping their jobs and have cut their spending. "People are being very cautious right now," she said. Gifford said AAA is anticipating that Thanksgiving travel will be affected by the economy as well. "We expect the number of travelers to decrease for the first time since 2000," she said. However, Gifford says recent price drops could entice drivers to reconsider their plans. "With gas prices at lows we haven't seen in years, people may make a last minute decision to travel by car," she said.



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