It's really true – gas dips below $4 a gallon

The signs don't lie: Charlotte-area gas prices really have dropped below $4 a gallon.

Declining oil prices in the last two weeks – from a record-high of more than $145 a barrel to less than $124 Friday – have meant a little less pain at the pump.

The region's average price of regular unleaded was just under $3.99 Saturday, down from $4.07 on July 17, according to AAA.

Saturday's price was still up 37 percent from a year earlier, when gas was about $2.90 a gallon. But the recent dip is still a relief, area drivers said.

Michelle Williams of Charlotte filled up her white Mitsubishi Galant – whose license plate read LUVISLUV – Saturday afternoon at the Quik Shoppe at East and South boulevards, where regular unleaded was $3.95 a gallon.

“I drove over here to get this gas,” which was cheaper than stations near her home off Wilkinson Boulevard, Williams said, adding that saving only a few cents “makes a big difference.”

The nationwide average price for a gallon of regular gasoline has fallen below $4 for the first time since June 6. Analysts said it's too soon to tell if the decline is here to stay. But AAA spokesman Geoff Sundstrom told the Associated Press that prices across the U.S. could drop by at least another 25 cents by Labor Day if oil prices continue to slide.