Gas prices still falling in New Jersey

Gasoline costs have continued to drop in New Jersey and throughout the nation.

As of Dec. a gallon of standard gasoline was promoting for and common of $3.58 per gallon within the Backyard State. That quantities to a 14-cent drop in every week and 30-cents in a month.

New Jersey remains to be outpacing the nationwide common for normal fuel, which has dropped to $3.40.

Many analysts predict a unbroken decline as a result of dropping oil costs and average demand for gasoline.

Patrick De Haan of GasBuddy.com reported nationwide fuel costs dropped under what we have been paying a yr in the past for the primary time in 669 days.

In New Jersey, we’re nonetheless paying greater than a yr in the past. In December of 2021, the typical value for fuel in New Jersey was $3.43.

The decline in fuel costs has been dramatic in lots of states, and 11 at the moment are reporting pump costs under $3 per gallon.

As shoppers proceed to battle with inflation and better prices for almost the whole lot, the drop in fuel costs is welcome information.

Additionally encouraging is the continued drop in diesel gasoline prices. In New Jersey, diesel fell to $5.55 per gallon, down greater than 30-cents in a month.

De Haan predicts the nationwide common for truck gasoline will fall below $5 per gallon within the subsequent few days. “It’s going to be the primary time since October, and can probably fall under $4.80/gal within the subsequent couple of weeks,” De Haan says. That might be the bottom stage since March.

Eric Scott is the senior political director and anchor for New Jersey 101.5. You may attain him at eric.scott@townsquaremedia.com

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