Gas prices expected to drop drastically ahead of midterm elections

CHARLOTTE, N.C. — Officials said gas prices have fallen nearly 5 cents per gallon over the last week and will continue to drop ahead of Tuesday's midterm election.

The average price in Charlotte is $2.57. Experts told Channel 9's Mark Barber they think the prices will drop another 10 cents in the coming weeks.

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Many families said this will really make a difference.

"That will help out a lot. I'm a single mother so that would really help out a lot. I would love $30 over $50 any day," driver Joshming Icquirdo said.

Wiston Vivas said he drives for Uber and now that gas prices are dropping, he said he will finally start making a decent profit.

[LIVE fuel price averages here.]

"I'm happy now with these prices. You can save money, you can really save money with these prices," Vivas said.

Prices have already fallen 6 cents and AAA estimates they will plunge another 10 soon because rising oil production throughout the world is creating a fuel surplus.

The U.S. is expected to impose new sanctions on Iran. AAA doesn't think that will lead to higher gas prices here in Charlotte since the market has been anticipating the sanctions since May.

Experts think prices will stay low unless something changes with politics or the weather.

The lowest prices in the Charlotte region are in South Carolina. You can save an average of 13 cents by crossing state lines.

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