IndyStar.com's Pump Patrol will have the latest price changes as they occur today. Meanwhile, the average price in Indianapolis dropped 6 cents overnight to $2.32. Statewide, the price reached $2.44 today, also 6 cents lower than Tuesday.

How low will it go?

Some economists thought pump prices would bottom out at $2.50 a gallon, but Tuesday several stations went much lower.

A Brownsburg station sold gasoline for $1.93 a gallon -- about a 50 percent drop from six weeks ago.

Prices are spiraling downward even faster than experts predicted. "I should have gone even lower," said Peter Grossman, an energy expert and economics professor at Butler University. In early October, he said pump prices would fall to $2.50.

Grossman says crude oil, which fell to about $62 a barrel Tuesday after topping out at $147 in July, could fall even lower to the mid-$40s. That could shave gasoline prices another 20 cents per gallon.

The prices are being driven down because of decreasing demand worldwide, Grossman said.

"I think this is a sign it (the prices of gas) can go lower," he said. "If the world economy gets really bad, there's no reason why it can't."

Statewide, the average price for a gallon of gas was $2.50. It was $2.38 in the Indianapolis area.

The lowest average price recently was in January 2007, when Hoosiers were paying $2.04. It hasn't been under the $2 mark since May 2005, according to AAA records.

AAA Hoosier Motor Club spokesman Greg Seiter said Hoosiers need to continue their present driving habits, since sticker shock at the pump helped reduce demand and drive prices down.

"Our hope and intention is that people keep doing whatever it is they are doing, even with prices being more tolerable," Seiter said. "I don't think people can take it as normal."