NJ Gas Prices Hold Steady After Weeks Of Decline

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STATE — Average retail gasoline prices in New Jersey have not moved in the past week, averaging $3.25 per gallon yesterday. This compares with the national average that has fallen 6.6 cents per gallon in the last week to $3.37 per gallon, according to gasoline price website NewJerseyGasPrices.com.

Including the change in gas prices in New Jersey during the past week, prices yesterday were 26.9 cents per gallon lower than the same day one year ago and are 21.3 cents per gallon lower than a month ago. The national average has decreased 24.0 cents per gallon during the last month and stands 19.8 cents per gallon lower than this day one year ago.

“Oil prices rose significantly last Friday, reversing a downward trend,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “It was the largest single day jump in recent memory. In some areas of the country, specifically the Great Lakes, gas station margins are fast approaching negative territory, meaning price hikes can be expected there. Other regions may see prices stabilize or jump higher as well. One thing is for sure- the yellow brick road won’t be leading us to cheaper pumps for much longer, something many Americans will undoubtedly tie to the upcoming holiday,” DeHaan said.

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