The AAA reported that the average price of gas is $2.13 per gallon. Meanwhile 44 percent of gas stations nationwide offer gas below $2 a gallon, according to GasBuddy.com.

According to a report from CNN gas prices are expected to continue to drop. It would mean every driver would be able to save $40 each. GasBuddy also reported that gas prices are below $1.59 per gallon in Texas, Ohio, and Oklahoma.

GasBuddy chief oil analyst Tom Kloza projects most stations in the US to offer gas prices below $2 per gallon by the end of the weekend. He also expects the national average to go below $2 by Christmas or early next year. The last time gas prices have been this low was in 2009. Oil prices dropped to levels below $40 a barrel in August due to a glut in supply brought by strong US production, but weak demand in Asia and Europe, caused by economic downturn and strong dollar.

According to AJC, some of the lowest prices are in South Carolina with $1.87 and Alamaba with $1.88 a gallon. However, in California, gas is still $2.76 per gallon. 

"There is a lot more room for prices to fall," GasBuddy petroleum analyst Patrick DeHaan said in Star Tribune. "We are really in only the third inning of the decrease."

"It is a great situation for drivers," AAA Fuel Gauge Report's Michael Green said. "Prices are dropping very quickly right now."

DeHaan said unless there are any big disruptions in the commodities market, gas prices will be below $2 by Thanksgiving Day, and would continue to drop 15 cents to 30 cents more on Christmas Day.

People drive less on winter months, which means demand will go lower. This can help pull prices even lower. Kloza said another factor that could bring prices further down are the reopening of refineries that recently went under construction.