Falling oil prices means continued lower gas prices in NJ
WAYNE — Gas prices continue to drop in New Jersey.
According to AAA Northeast, the average price for a gallon of regular in the Garden State has dropped eight cents this week to $4.08.
Today's average price is down 29 cents from a month ago ($4.37), but it's still $1.19 higher than it was on April 11, 2021.
New Jersey's average pump price is three cents less than the national average, which is at $4.11 this week, down seven cents from last week, and 22 cents cheaper than a month ago ($4.44). The national average is $1.25 higher, however than this date in 2021 ($2.86).
The cost of gasoline has continued to slide due to falling oil prices, according to AAA. The global oil market has seen lower prices since the U.S. and its allies agreed to significant releases of oil reserves.
Also weighing down oil prices is the fear of rising COVID-19 infections in China and its potential for an economic slowdown in one of the world's largest oil-consuming nations.
"These lower prices may be a boon to drivers hitting the road more as warmer weather returns," said Robert Sinclair Jr., Senior Manager of Public Affairs for AAA Northeast.
New York drivers are paying an average of $4.22 this week, down seven cents from a week ago. Drivers in Pennsylvania are paying six cents less a gallon this week than a week ago at $4.21.
Jen Ursillo is a reporter and anchor for New Jersey 101.5. You can reach her at firstname.lastname@example.org
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