NJ Gas Prices Down Sharply
Motorists continue to see sharply lower prices at the pumps in New Jersey, a trend likely to continue through the spring.
AAA Mid-Atlantic says the average price of a gallon of regular gasoline in New Jersey on Friday was $3.31, down 8 cents from last week. That’s also much lower than the price from a year ago, when motorists were paying $3.80, and marks the eighth straight week that prices have fallen in New Jersey.
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|New Jersey Gas Prices provided by GasBuddy.com|
“Prices at the pump continue to drop, a trend that could bring motorists relief well into summer,” said Tracy Noble, spokesperson for AAA Mid-Atlantic. “Rising gas prices are a typical springtime trend; however, this year the trend occurred on a much earlier timetable with spring highs coming in late winter. That said, analysts believe a seasonal low could come in June this year instead of July.”
Analysts say the falling prices are due to falling crude oil prices, less demand for gas from drivers and signs of global and domestic economic weakness.
Meanwhile, the national average price fell by 5 cents to $3.51. That’s much lower than the national average from a year ago, when motorists were paying $3.89.
The Associated Press contributed to this story