NJ gas prices may continue to fall

New Jersey drivers are paying about a quarter less for a gallon of gas compared to a year ago.

According to a AAA Northeast analysis released on Monday, the average price for a gallon of unleaded in New Jersey is $3.33. That's six cents lower than last week, six cents higher than prices a month ago, and 25 cents lower than prices on Feb. 13, 2022.

"Drivers may have a little more in their wallets as we head toward Valentine's Day," said Robert Sinclair Jr., senior manager of public affairs for AAA Northeast. "If gas demand and oil costs remain low, drivers will likely see pump prices drop through next week."

Gas demand dipped slightly last week, according to the Energy Information Administration. At the same time, domestic gasoline supplies increased by 5 million barrels.

According to AAA Northeast, New Jersey saw the biggest week-to-week decline in the price of gasoline in the region encompassing the Garden State, New York, Connecticut and Pennsylvania.

Nationally, the average price for a gallon of regular is $3.41. It was $3.48 one year ago.

Dino Flammia is a reporter for New Jersey 101.5. You can reach him at dino.flammia@townsquaremedia.com

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