Oil, Gas Prices Plummeting, Could Go Even Lower

The latest forecasts on the price of oil in 2015 predict substantial drops in both the first and second quarters.

Goldman Sachs says crude oil could go as low as $70 a barrel in the first half of the year, lowering costs at the pump.

Oil prices have fallen sharply over the past few months.

After hitting nearly $108 a barrel mid-summer, it's fallen to around $80 now, which has also brought a steep drop in gasoline prices.

AAA reports a national average of $3.03 a gallon, the lowest price in four years.

Seventeen states even dipped below the $3 line. AAA said this could become commonplace.