ATLANTA (WSAV) — There is some encouraging news at the pump, gas prices have dipped. Georgia drivers are paying about 60 cents less than a month ago and in South Carolina, gas is 60 cents less than in July.

Georgia is one of a dozen states with gas prices under $4 a gallon.

AAA says Georgia’s average price of gas is $3.70 — nearly fifty cents cheaper than the national average.

“When global oil prices fall, which they have, we need to see the prices reflect on what consumers pay as well,” said Heather Boushey, White House, Council of Economic Advisors.

Economists said the lower cost of crude oil, recession fears, and the Biden administration releasing emergency oil is helping reduce prices at the pump.

“The high prices have induced more rigs, more production and the slowing economy has restrained demands and those two things has dropped the price of oil which then feeds into price of gasoline,” said Emory University Professor Ray Hill.

Emory professors say an increase in demand earlier this summer with road trips drove up costs.

“The price for it is set through global oil markets. You don’t have control over as a country over the prices,” Boushey said.

“If we continue to slow GDP growth, that will restrain demand and my own expectation and we will see lower prices by the end of the year,” Hill said.

Analysts said at the current prices, the average driver will save $35 a month, compared to the June peak.