It’s no trick, but a very big treat: the average price of gasoline has just fallen below $3 per gallon in the United States for the first time over 46 months, according to GasBuddy.

“We have been watching the average fall since June, a rare feat that we had predicted in our 2014 forecast, but to see the magnitude of the decline over the last month has been astounding,” said Patrick DeHaan, senior petroleum analyst with GasBuddy. “And to cap it off, the U.S. average dipped below $3.00 per gallon just minutes ago, and currently sits at $2.999.”

The last time the national average was under $3 was on December 22, 2010, when it stood at $2.995 per gallon.

According to GasBuddy’s site, 47 states have at least some prices under $3/gallon, with the lone exceptions being Hawaii (cheapest gas is $3.75/gal), Alaska (cheapest gas is $3.42/gal), and Wyoming (cheapest gas is $3.02/gal). Just 15.7% of the nation’s 133,000 gas stations are charging more than $3.25/gal, while over 60% are charging under $3/gal. America’s daily gasoline bill stands some $108 million lower than one year ago.

“With the global decline of crude oil prices matched by the strong fuel production reported both in the U.S. and other major producers worldwide this milestone became inevitable,” DeHaan added.

How much lower could gas prices go?

“That’s the question everyone’s asking and we’re cautiously optimistic that the national average could fall further, perhaps by another 5 to 10 cents per gallon before year’s end. Some parts of the country such as the Southeast might see a greater decrease,” said Gregg Laskoski, another senior petroleum analyst with GasBuddy. “The next OPEC meeting is November 27 and that may give us an indication of whether or not OPEC might try to curb production. If it does, that might stop the slide of oil prices.”