Oil prices plummet, but will gas prices continue to fall? Tell us what you think

December 4, 10:16 PMBusiness ExaminerDarrell Proctor

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Prices at the pump have fallen dramatically since summer.

Oil prices are at their lowest point in four years. A barrel was trading below $44 early Friday in Asian markets.

Prices are off about 70 percent from their July high - $147.27 a barrel - and gas prices have tracked that decline as well. In some places where gas was $4 a gallon this summer, it's now below $1.50.

But while some analysts predict oil is headed below $40 a barrel, we're not seeing folks predicting gas prices will continue their fall. In fact, some stations in my Colorado neighborhood have actually raised prices a few pennies per gallon in the past week.

So while $1.50 a gallon for gas seems "cheap" today compared with prices a few months ago, some of us recall when prices were well below $1 a gallon. We've been told we would never see that again.

And we'll just have to see about that.