NJ gas prices dropping ahead of July 4th weekend

Gas prices continue their slow, but steady, decline in New Jersey.

AAA puts the average for regular at $4.91 a gallon in the Garden State. That's off 8 cents from a week ago, but still 16 cents higher than a month ago.

A year ago, New Jersey drivers were paying $3.12 a gallon.

Even with demand for gasoline rising, oil prices have been falling, contributing to the decline.

Industry analyst Patrick De Haan from GasBuddy.com predicts a further decline as we approach the July 4th weekend, perhaps another 10-15 cents per gallon.

Every New Jersey except one now has average prices below $5 per gallon. Somerset County is still averaging $5.05, according to AAA, and remains the most expensive place to buy gas.

Prices at rest stops on the New Jersey Turnpike and Garden State Parkway also remain above $5 per gallon.

Shore counties have followed the trend of lower prices from a low of $4.85 (Atlantic) to $4.93 (Monmouth and Cape May).

Gas prices have been declining about one cent per day since reaching a peak of $5.05 a gallon on June 13.

Diesel prices have also been falling. They hit a peak of $6.33 per gallon on May 18, but have now fallen to $5.98.

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

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