You could be paying a lot less at the pump if this news is true.

GasBuddy.com data is forecasting a plunge in gas prices over the next several weeks. The average cost of gas has continued to edge down over the last month and is down 7.1% in this past week alone.

According to MSN.com, the speculation is that the price could drop by an average 16 cents a gallon nationwide, which is often not the case as we inch closer to the summer driving season. The head of petroleum analysis for GasBuddy.com, Patrich DeHaan said, "We're likely to see more good news at the pump than bad for the forseeable future."

Here's a gas blast from the past: When I graduated from Ithaca College back in 1973, they were having a gasoline price war. I remember paying 27 cents a gallon during the month of May in '73. The attendant actually got pissed when I asked him to clean my windshield.

The federal government levies an 18.4 cent tax on every single gallon sold in the United States and each state adds their own gas tax to that. The state with the lowest gas tax in the nation is Alaska at 14.7 cents per gallon. The state with the largest gas tax is Pennsylvania at 58.7 cents per gallon. Connecticut comes in at #7 at 43.5 cents per gallon.

If you'd like to find out which gas stations have the lowest prices in the greater Danbury area, just click on gasbuddy.com and then at the top, click "Find Gas." Currently, the lowest gas price in Danbury is $2.73 per gallon at the Citgo station at 63 Main St. The lowest price in New Milford is $2.61 per gallon at the Valero station at 315 Danbury Rd.

If you've had your eye on that two-seater 16 cylinder Bugatti Cheron that gets only 11 mpg, now may be the time to make your move. With gas prices predicted to take a nosedive, why not go for it?