HOUSTON -- After months of paying high gas prices, drivers could get some relief. Oil prices fell below $50 a barrel Thursday and gas prices are now below $2 in many states, KPRC Local 2 reported.

Although lower gas prices seems like good news for drivers, several oil companies in the Houston area could see the bad side of it. Experts said low gas prices could mean layoffs.

"Low gas prices leads to oil companies slowing down in exploration and drilling, and that means less business for them, " said Craig Pirrong, a professor at the University of Houston.

Some refinery workers in Pasadena said they were told layoffs begin Friday.

"I was told I was being laid off. They said it was because work has been slow," said one worker.

Another man said he has already been affected by the layoffs.

"I used to work for Chevron in Sweeney and I lost my job not too long ago," said Matthew Pomales.

Experts said that as long as the economy is weak, oil prices are going to be low and vice versa. Pirrong estimated that it will take one year to 18 months before things start to turn around.