A drop in NJ gas prices could start in days

It’s become the new reality in New Jersey: Gas prices keep climbing higher and higher to new records almost every single day. But we could soon get a break.

According to Tom Kloza, the global head of energy analysis for the Oil Price Information Service, we could be getting a respite from rising gas prices in the coming days.

He said over the next three months, “the trend is still higher but I think the next three weeks we might wobble back a little bit. You may see a nickel, 10 cents lower.”

He said the wholesale price of gasoline has been dropping since Monday, which is a good sign.

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“What we’re seeing this week is we’re seeing crude (oil) kind of do the cha-cha but gasoline prices are kind of doing the tango with deep dips," Kloza said.

“I do think we’re getting a reprieve now, and it will be a noticeable reprieve, you know pending any other news.”

He said right now prices at the pump are hovering around $5 and “you might be at $5 tomorrow, but based on these sort of respites in the spot market, you might see prices drop below that.”

What happens after that?

A month from now, Kloza expects prices at the pump to start drifting higher.

“July is really going to be driven by demand and there’s an awful lot of people that are saying I don’t care what the price is, I’m taking my vacation,” he said.

David Matthau, Townsquare Media NJ

Looking a bit further down the road, Kloza pointed out that August is hurricane season.

"We cannot afford to lose one refinery for precautionary shutdown, let alone one that actually gets damaged," he said. “To lose a big refinery in Port Author or Houston or New Orleans or whatever, would really send prices soaring.”

How do NJ gas prices compare to other places?

Kloza noted while $5 a gallon gas is certainly upsetting, drivers in California are paying around $6.50 a gallon because the Golden State has such a high gas tax, while drivers in Canada pay about $7 a gallon, and some countries in Europe have gasoline priced at $10 a gallon.

David Matthau is a reporter for New Jersey 101.5. You can reach him at david.matthau@townsquaremedia.com

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These are the best hiking spots in New Jersey

A trip to New Jersey doesn't have to be all about the beach. Our state has some incredible trails, waterfalls, and lakes to enjoy.

From the Pine Barrens to the Appalachian Trail to the hidden gems of New Jersey, you have plenty of options for a great hike. Hiking is such a great way to spend time outdoors and enjoy nature, plus it's a great workout.

Before you go out on the trails and explore some of our listeners' suggestions, I have some tips on hiking etiquette from the American Hiking Society.

If you are going downhill and run into an uphill hiker, step to the side and give the uphill hiker space. A hiker going uphill has the right of way unless they stop to catch their breath.

Always stay on the trail, you may see side paths, unless they are marked as an official trail, steer clear of them. By going off-trail you may cause damage to the ecosystems around the trail, the plants, and wildlife that live there.

You also do not want to disturb the wildlife you encounter, just keep your distance from the wildlife and continue hiking.

Bicyclists should yield to hikers and horses. Hikers should also yield to horses, but I’m not sure how many horses you will encounter on the trails in New Jersey.

If you are thinking of bringing your dog on your hike, they should be leashed, and make sure to clean up all pet waste.

Lastly, be mindful of the weather, if the trail is too muddy, it's probably best to save your hike for another day.

I asked our listeners for their suggestions of the best hiking spots in New Jersey, check out their suggestions:

Categories: New Jersey News