Gasoline Prices Averaging $1.66 A Gallon In Chicago Area

(CBS) – How low can they go? Gasoline price just keep on falling.

Right now in the Chicago area, the average price for a gallon of gas is $1.66, according to the website Gasbuddy. One year ago, the average was 76 cents a gallon higher -- $ 2.42. The current level is even below the national average, which is $1.73.

"It will continue as long as the plunge in oil prices continues," says Patrick DeHaan of Gasbuddy.

He cautions: "I think we're to point now where there's more negative than positive."

On Wall Street, the markets tumbled again, the Nasdaq down nearly 15 percent in 2016. Wall Street, spooked by the crash in oil prices, fell another 3 percent, dropping below $30 a barrel, driving fear that something isn't right economically.