Still falling – NJ gas cheapest in over a year
New Jersey gas prices have fallen to their lowest levels in over a year.
The statewide average for a gallon of regular gasoline is now $3.29, according to AAA. That is 10-cents less than we were paying in December of 2021.
Even with demand for gas rising over the last few weeks, oil prices have continued to decline slightly resulting in the continued decline.
While prices never fall as fast as they rise, New Jersey drivers have been seeing a daily decline of between one and three cents per gallon for the last several weeks.
New Jersey topped out at a record $5.05 per gallon for regular gas last June, and prices have now dropped $1.76 from that mark.
Nationally, the average has fallen to $3.14, according to AAA.
Analyst Patrick De Haan of GasBuddy.com says nearly half the states in the nation are now seeing average prices below $3.00 per gallon.
Whether New Jersey drops below $3 remains to be seen, but it is not likely. Many analysts predict prices will begin to rise again after the New Year.
The cheapest gas in New Jersey is selling around $3.17. The most expensive is still near $3.50 per gallon.
LOOK: See how much gasoline cost the year you started driving