Gas Prices Continue To Fall

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STATE — Average retail gasoline prices in New Jersey have fallen 5.8 cents per gallon in the past week, averaging $3.46 per gallon yesterday. This compares with the national average that has fallen 4.5 cents per gallon in the last week to $3.61 per gallon, according to gasoline price website

Including the change in gas prices in New Jersey during the past week, prices yesterday were 24.4 cents per gallon lower than the same day one year ago and are 23.0 cents per gallon lower than a month ago. The national average has decreased 18.2 cents per gallon during the last month and stands 16.2 cents per gallon lower than this day one year ago.

“An impressive decline in average gasoline prices will now be extended as the West Coast begins to see lower prices in the days ahead,” said Senior Petroleum Analyst Patrick DeHaan. “With significant downward pressure on oil prices last week, motorists will continue to see prices sliding east of the Rockies, and even the West Coast will start to get in on the action, thanks to a supply situation that appears to be turning around. Also pushing down oil prices last week was a frightening jobs report, as well as continued concerns about European debt problems,” DeHaan said.


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