The price of gas hit a stunning low -- just 47 cents per gallon -- in Michigan on Sunday.

Michigan was the first state to have gas under $1 in what Gas Buddy senior petroleum analyst calls a "price war" between area stations.

For Sioux Falls, the lowest prices we could find at the time of this writing was $1.46 per gallon. The Watertown and Milbank area reporting $2.19 per gallon on GasBuddy.com.

Low gas prices can likely be attributed to low oil prices, as oil supply stays high and oil demand stays low.

The low gas prices are a nice break, but the low oil prices are wreaking havok on the stock markets.