Gas prices dropping below $3

The average price of regular gasoline in metro Atlanta is still lingering above $3, but some neighborhoods are now seeing prices drop below that.

Channel 2 consumer investigator Jim Strickland found several warehouse clubs and convenience stores are selling regular gasoline as low as $2.949 per gallon, according to prices listed on GASBUDDY.com.

"This does something for the pocket, it saves us money," said driver Anthony Richards. "I feel it in my pocket, believe me."

Richards was filling up at a Snellville Citgo that charged 5 cents under the $3 benchmark. Drivers at the station told Strickland they are not sure it's going to last.

"Like today, it's $2.94. You come back a few days later it might be back up to three something," said driver Patricia Harrington.

Gasoline executive  Livia Whisenhunt of PS Energy Group said price volatility will remain until the European economy stabilizes.  The weakness in the Euro has created a stronger dollar and oil prices run inversely to the dollar, Whisenhunt told Strickland.

"I think the long-term prediction for fuel prices is they're going to go up," she said.

That would be bad news for auto dealer Tariq Iqbal.  He said lower gas means his Snellville used car lot is more likely to sell bigger-profit SUVs.  High gas prices cost him and his customers because everyone has less cash on hand, he told Strickland.

"They can't make the down payment on a car, so it’s very hard to buy a car if the down payment is not available," said Iqbal.

The governor's economic advisor told Strickland that lower gas prices may help, but the real game changer with the Georgia economy will be lower unemployment.  Whisenhunt concurs.

"People have to get to their jobs. They'll be happy to pay the fuel price if they all have a job to get to," she said.