Here are a few updates about the current state of the oil industry:

• Crude oil closed down almost 5 percent today at about $46 dollars per barrel at the close in New York.

• Gas is under $2 per gallon in more than half the states.

• Gas that sells for an average of $2.45 cuts — in the aggregate — $120 billion from the amount we’ll all pay for gas this year.

That’s according to the Oil Price Information Service.