Gas prices expected to go down by Labor Day

CHARLESTON, SC (WCSC) - A drop in oil prices should bring down the cost of gasoline after Labor Day.

Crude prices have fallen about $7 a barrel over the past two weeks as traders predict lower global demand.

The drop in crude oil price means gas could drop by as much as 15 cents from the current average, about $2.72 a gallon.

The lowest gases prices in the Charleston area were found to be $2.47 a gallon in North Charleston and goose creek. Drivers reported paying $2.47 a gallon on North Murray Boulevard, and North Rhett Avenue.

The price of gas is $2.47 gallon on Highway 17 in Red Top and a little higher on Highway 17 in Mount Pleasant at $2.59.

Copyright 2010 WCSC News. All rights reserved.