Jersey Gas Prices Continue On Their Way Down [AUDIO]
Gas prices have continued to fall in New Jersey and elsewhere, and drivers are celebrating.
Analyst Tom Kloza of the Oil Price Information Service says one reason why Jersey gas is averaging about $3.36-a-gallon right now is a big drop in crude prices...by about 35 dollars-a-barrel from where the price stood in March.
Tom says in some parts of south Jersey, you might even get gas as cheap as $3.10.
Does that mean we could see $2.90-something by sometime this summer?
Kloza says he is not ready to go that far, but we are likely to see some more shaving of the price of crude in the near future.
Kloza says another reason for the price drop is there were refineries that were predicted to close, and they have been saved...for now. One is the Sunoco refinery in South Philadelphia, one of the nation's oldest. It had been slated for closure but will now stay up and running.
He says there are some prices as low as 3-10-a-gallon in the state. Prices will likely continue to fall in the coming weeks.