Cheaper Gas Expected This Fourth Of July [AUDIO]
This Fourth of July may find us driving with drastically lower-priced gas than we have for some time.
Ben Brockwell of the Oil Price Information Service says we will see fourth of July prices at their lowest level in three years. He says South Carolina's average is already going under three dollars-a-gallon. And while there are no guarantees, he adds, "I do think there's a possibility that some New Jersey stations could go to the three-dollar mark, maybe a little below three dollars."
Brockwell says it is, "questionable" whether New Jersey will see three-dollars-a-gallon. But he says we could come very close. He says this July 4th, you may see some extra demand from drivers, but that is not going to have any impact on what we pay at the pump.
Brockwell says Jersey pump prices are currently going into the $3.20's on average. Saudi Arabia is producing crude oil at its highest level in some time, and oil demand in China is at its slowest pace since '09, which is all good news for New Jersey drivers.