It's been spiking up and down in the Bay Area. Today it was $2.76 at Costco in Santa Clara.
Of course the crude price is just one factor in gasoline price. No matter how low crude goes, the refining costs don't change, and the distribution costs don't change much either. And remember, that the retail price is based on market factors as much as it is set by the cost of crude, refining, and distribution.
If the Iran deal goes through, as it appears like it will, crude prices will fall even further once Iran ramps up production. $30/barrel crude is likely. Despite all the lies by Republicans about the deal, the real reason they don't like it is because their buddies in the oil business don't want cheaper crude oil. Also, the Saudis are determined to keep the crude price below the cost of tar sands oil, and have said as much.
And of course remember that the futures price of crude is only loosely related to the cost of producing gasoline. Oil companies with their own wells are not paying anywhere close to $40 per barrel for the crude they use in their refineries.