According to the predictions it is supposed to keep lowering. I am not sure how low it will actually go, or how fast it will go. I think it should be quite a bit lower, but I am hoping people can still be responsible with it even though it is much cheaper.
There are many suggestions as to why supply has risen and caused gas prices to go down. Many point to Saudi Arabia increasing supply as a measure to gain more control of the market. That doesn't really make a lot of sense, but certainly there is just a lot more oil in the marketplace right now. There is no reason to suggest that supply will dry up any time soon, so prices should fall further.
Gad price started going down recently in Canada and the United States of America. This is good news for motorists as they get to keep few dollars to their pocket. The gas prices is expected to continue to fall because middle east oil producers launched a price war by increasing production to save their market share in the oil industry, due to increase in US shale oil and Canada oilsands production
The fall of gas prices has been so consistent for so long now, it has seemed as though it would never end. But even as cheap as they've become, the fact is that they cannot continue to fall forever. Indeed, there is a point at which even the Saudis would be losing money. Hence, the prices must level out sooner or later.