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Falling gasoline prices are not good for everyone

CBS News

Gas prices are expected to keep falling after another milestone. A new survey found the average cost of regular gas is at its cheapest point in more than 5.5 years, dropping 25 cents to just $2.47 per gallon. But the good news for drivers is scary for some American towns, reports CBS News correspondent Vicente Arenas

Record U.S. oil production is driving global supply up and prices down to less than $60 a barrel, but many in the industry fear this boom could ultimately end in a bust and that has oil dependent communities fearing tough times ahead.

On a weekday morning at the Boom-A-Rang diner in Seminole, Oklahoma, the talk is all about the plunging price of crude. Video Link