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.
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