(WGHP) — You may find some good news the next time you go to fill up your tank.
North Carolina was fortunate to have never hit an average of $5 per gallon of gas, though the fear was certainly there. In California, prices broke $6.40 a gallon, Oregon topped $5.50 and New York just barely crossed $5, according to GasBuddy. North Carolina’s peak in mid-June was just under $4.70.
Now, Gas Buddy analyst Patrick De Haan says we may drop below $4 in a matter of days.
“On average, most stations will go down 1-2c/gal every couple days or so, and as long as oil prices don’t reverse back, this could continue for 2-3 weeks or more,” De Haan said. “By which time, #gasprices could be 35-60c/gal or so lower. Things could reverse however- markets have been very volatile. However, it things do hold steady, the national average could drop to $4-$4.25/gal by mid-August.”
He added that several states could see prices below $4 a gallon “in the days or week ahead,” listing out South Carolina, Georgia, Mississippi, Louisiana, Arkansas, Texas, Alabama, Tennessee and North Carolina.
California also has some good news on the horizon — though not quite as good as the southeast — with prices expected to drop below $6 a gallon “and a few stations in Cali could fall under $5/gal.”
There’s still a chance we could see this downward trend turn around. The three biggest threats to gas prices, De Haan says, are a “sharp rise in oil if the market reverses given the large selloff, or a hurricane threatening the Gulf, or a major refinery issue.”