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Gas prices in NJ taking a double digit drop

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TRENTON, N.J. (AP) — Gas prices have taken a double-digit drop in New Jersey and around the nation primarily due to lower demand, analysts said.

AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $4.75, down 10 cents from last week. Drivers were paying $3.16 a gallon on average a year ago at this time.

The national average price for a gallon of regular gasoline was $4.72, down 12 cents from last week. Drivers were paying $3.14 a gallon on average a year ago at this time.

Analysts say supply and demand dynamics coupled with decreasing oil prices have pushed pump prices lower, but the trend could be short-lived as more Americans hit the road during the peak of the summer driving season.

—Copyright 2022 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

 

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