Gas under $3 per gallon in parts of the Triad

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HIGH POINT, N.C. -- Some gas stations across the Piedmont are selling gas for less than $3 per gallon. That's great news for drivers like Lee Tyner.

"Thirteen gallons for $40, that's not bad. We haven't seen that in a while. It's a good thing," Tyner said.

Lower gas prices are a good thing for our wallets and for the economy. High Point University Economics Professor Dr. Peter Summers adds we feel better about the economy when we see falling gas prices.

"It is true that measures like consumer sentiment are very responsive to gas prices," Summers said.

And when you add falling gas prices to other positive economic indicators like corporate earnings, good thoughts about our economy can go a long way.

"That's when we begin to see people's positive feelings turn into higher retail sales and higher spending and fueling economic growth," Summers said.

Some analysts say gas prices could fall to their lowest level since late 2010.