From an economic standpoint, right now, it is not good. Many economies are heavily dependant on oil, and a lot of people have lost their jobs. However, I believe this could be the catalyst of a good thing, as companies will need to transition to alternate energy fonts to survive.
If oil prices go down than odds are that gasoline prices will continue to go down as well. Let's face it for awhile there gasoline prices were down right ridiculous. This had to do with oil prices being outrageous as welll. So, if one goes down odds are the other will as well.
The economy needed a boost, and the lower prices of crude oil have allowed people to save some money that they can spend in other places in the economy. Long-term prices probably have to rise a little as the cost of jobs may become a problem, or a recent good relationship with OPEC could falter.
Most goods and services in the world are influenced by the cost of crude oil due to the cost of transportation. By the price of oil reducing, economies will do better, but ultimately oil is an outdated form of fuel. I am glad the prices have dropped, but we should use it less anyway.