Oil prices hit all-time highs in July and have fallen more than 25 percent since, trading around $60 a barrel in recent weeks.
That's reasonably good news for drivers and homeowners heating their houses since their costs aren't estimated to soar in 2007. And in some cases, they're expected to fall from 2006 levels.
The Energy Information Administration (EIA) is forecasting that gasoline will average $2.48 a gallon in 2007, down 3.4 percent from 2006.
In terms of heating, the EIA estimates that if you use heating oil your costs this winter will increase an average of 6.4 percent to $1,523. If you use electric heat, the EIA projects a jump of 9.2 percent to $853.
But if you're a natural gas user, your average bill for the season will run an average of $860, down 8.9 percent from this year.
(If you want to curb heating costs even more, here are 6 ways to shrink your heating bill.)