Are we really on the verge of $1.50 gas by the end of the year?

Heck, we're awfully close now., which collects gas data from all over, is showing prices for regular gas as little as $1.73 Tuesday, with many of the cheapest stations in New Jersey centered around the Edison area.

Jeff Pelton of told New Jersey 101.5 last week prices could dip below $1.50 before 2015's out.

"Come Christmastime, the prices people should see are going to be eye-popping," he said.

The annual switch from summer blends of gasoline to cheaper, winter blends of gasoline happens today — so we should start seeing prices fall quickly. Pelton's also said a downtick in demand  and an oversupply of crude oil will help.

Louis C. Hochman is digital managing editor for Reach him at or on Twitter @LouisCHochman.

Lowest Gas Prices in New Jersey
New Jersey Gas Prices provided by