Oil below $70, but will gas prices fall?

Oil prices fell below $70 a barrel yesterday, the lowest it’s been in a year. But, I’m willing to bet that we don’t see gas prices fall back to the levels they were at this time last year. Because of the rapid increases over the summer, our expectations have changed and we are now accustomed to paying $3/gallon or more for a product that we were paying less than $2/gallon for 12 to 18 months ago. And I expect that the oil companies will milk our adjusted expectations for all they are worth.
Gas prices coming down is one of the best things that could help our economy right now. With house prices falling and so many other prices going up, fuel prices coming down may be the one thing that could save our country from a recession because dropping fuel prices will remove pressure from the average families pocket book and it may mean that prices for other goods may not have to go up as much because the costs to producers are lower.
Let's all keep our fingers crossed that prices at the pump will keep coming down.