NJ Gas Prices Fall, But Remain Above National Average

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STATE — Average retail gasoline prices in New Jersey have fallen 6.4 cents per gallon in the past week, averaging $3.36 per gallon yesterday. This compares with the national average that has fallen 4.8 cents per gallon in the last week to $3.34 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 22.6 cents per gallon higher than the same day one year ago and are 24.0 cents per gallon lower than a month ago. The national average has decreased 12.2 cents per gallon during the last month and stands 5.5 cents per gallon higher than this day one year ago.

“The national average has continued to see a steady decline over the last week, and that trend will likely continue through this week at the very least,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “Last week, the Energy Information Administration reported one of the largest single week increases in gasoline inventories in my recent memory, which will likely contribute downward pressure to wholesale gasoline prices in the days and perhaps weeks ahead,” DeHaan said.

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