This sounds, on the surface, of being a good thing as our gasoline prices will tumble greatly. However, be sure you think this through . . .
Oil is being purposefully lowered in price by OPEC to try and kill the US production market. It is pretty well known that we cannot produce our oil for much less than $50/barrel. If OPEC can succeed in wiping out American oil production, then their coalition retains power in pricing their product and oil will then skyrocket right back to where it was, quite possibly much higher. Within 5 years of destroying the US market, I suspect we’ll see $200 barrel oil which will mean over $5.00/gallon at the pump.
So, even though we may see gasoline under $1 at the pump once again, it will be very short-lived. Sometimes the long-term is much preferable than the short-term.