By Eleanor Kennedy
ekennedy@charlotteobserver.com

Charlotte-area gas prices, which have been falling in recent days, should continue dropping for the next week before leveling off, according to AAA Carolinas.

In Charlotte, Thursday's average price was $3.68, a 5-cent drop from last week. Charlotte's prices are a little above the state average of $3.62, also down 5 cents from last week.

South Carolina has the cheapest gas in the area, at an average of $3.45.

Charlotte and the Carolinas are below the national average of $3.73, which also has dropped 5 cents.

AAA Carolinas spokesman Brendan Byrnes said the price of oil seems to be "inching slightly back up" in light of OPEC's failure this week to reach agreement on production quotas. That means gas prices may continue to fall about a penny a day for the next week or so but probably will stabilize after about a week, he said. At that point, Byrnes said, prices should stay at the same level for the next couple of weeks.

As the Fourth of July approaches, consumers should expect a slight bump in prices, but nothing too dramatic. Byrnes said Memorial Day travel was not much higher than last year, and that trend may hold true for the Fourth of July as well - meaning demand won't be particularly high.

"I don't think the demand is going to be high enough to cause a big jump," Byrnes said.

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