So what gives?
Oil prices are mainly dropping because the U.S. is pumping out a lot more oil in North Dakota and Texas because technology advances have have allowed companies to tap into areas that previously not cost effective to drill in. With the U.S. less reliant on foreign-oil, it has less effect on the price. But U.S. demand for oil though is also shrinking.
So how low can the gas prices go?
Analysts say we could see $2 before too long, according to a story by Dailyfinance.com.