Gas fuel analyst Dan McTeague said we may see the price continue to drop even further.

"They are going to keep going down and it looks like there is no bottom to the price decreases, so that's really welcomed news," said McTeague.

McTeague said this is a result of the barrel price dropping, with October being a big sell-off month.

"There's plenty of oil to go around.  The world seems to be doing just fine and for that reason, consumers are finally getting a break, even though we are paying still about twenty cents a gallon more than we did this time last year, it's heading in the right direction," said McTeague.

McTeague said he expects the price drop to continue through mid-month.

"I think there is probably another five to ten cents a gallon we could be looking at.  I think at that point though it's going to firm up and the simple reason is we're going to have to wait and see what happens Sunday when the full US sanctions on Iran take effect," said McTeague.

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