As the global economy falters, demand for oil -- and thus the price -- has dropped. The price of oil makes up about half the cost of gas so analysts expect prices to continue falling.

Some gas stations in Marshall, Texas, this morning put gas on sale for $2.99 a gallon.

The American Automobile Association expects $3 gas to be widespread within the next week or so.

Gas prices went up last month after hurricanes Ike and Gustav hit the Gulf Coast, where the bulk of the nation's oil refineries are located. Those refineries are back on line.