STATE — Average retail gasoline prices in New Jersey have fallen 4.7 cents per gallon in the past week, averaging $3.43 per gallon yesterday, according to gasoline price website NewJerseyGasPrices.com. Including the change in gas prices in New Jersey during the past week, prices yesterday were 28.6 cents per gallon higher than the same day one year ago and are 14.0 cents per gallon lower than a month ago.
The national average has fallen 3.7 cents per gallon in the last week to $3.39 per gallon and has decreased 11.3 cents per gallon during the last month but still stands 10.0 cents per gallon higher than this day one year ago.
“While the national average continues to fall, we’ve done the math–the yearly average in 2012 is all but guaranteed to set all time record highs,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “We still stand at $3.63/gal for a yearly average, and gasoline prices would need to average no more than $2.35/gallon for every day left in 2012 for the national yearly average to drop below 2011, something that appears impossible. In the meanwhile, we have lowered our forecast for Christmas gasoline prices to average between $3.25-$3.35/gallon,” DeHaan said.