Gas prices tumbling

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News 12 at 6 o'clock, July 30, 2007

AUGUSTA, Ga.---As you head out to fill up your car, you'll notice lower prices and more money left in your pocket. Prices at the pump are dropping at a quick pace.

AAA says the national average price for unleaded regular now stands at $2.89 a gallon. That's down at least 10 cents since a month ago.

In our area, those numbers are even lower. The average price in South Carolina stands at $2.70. In Georgia you'll see an average of $2.83.

This good news at the tank is thanks to refineries in Texas and the Midwest getting back online just last week and significant progress building up the fuel inventory. This means right now, supply is outweighing demand.

But with the good news comes some bad. AAA is expecting to see strong consumer demand for the rest of the summer, which may drive prices back up by the Labor Day holiday, and experts say oil prices will probably rise in September.

Right down the road from the News 12 studios, prices are even cheaper than the state averages, between $2.50 and $2.65.

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