Oil prices have dropped to $60 per barrel from a summer high of $78. I talked about why a big drop might be coming down the pike in a previous post. In California, I haven't seen any gas prices that start with a 1 just yet, but some parts of the country are reporting that.
USA today, however, is skeptical that gas prices will continue to fall until the nationwide average hits the ones, but doesn't really offer any compelling arguments for why we might be at a gas price floor. I'm betting on that there will be continued decreases in fuel prices.