Gas Prices Have Dropped In New Jersey, But Don’t Get Too Comfortable

The price drop for gasoline seen in New Jersey for the past week or so has caused some to breathe a sigh of relief, thinking that this could be the beginning of the end of record-high fuel prices. But experts are warning that the brief reprieve from rising prices might now be over.

Fuel supply chain experts say that as consumers were struck by the initial stick shock of outrageous gas prices, demand sunk as people cut down on their driving. However, as the market adjusts and more people hitting the road as the weather gets warmer, prices could soon begin climbing yet again.

“Usually this time of year, with warmer weather and longer days, we’d see an uptick in gasoline demand as more people hit the road, but he had a slight drop in demand last week, which may be due to higher prices,” said Andrew Gross of AAA.

As of Thursday morning, the average price for a gallon of gasoline in New Jersey was $4.19 – ten cents cheaper than a week ago. That’s still 58 cents more than we were paying a month ago, and a $1.24 more than a year ago.

But, in comparison to some other places, New Jersey motorists should perhaps be grateful. Nationally, the average price for a gallon of fuel is $4.25 – 72 cents more than a month ago and $1.37 more than a year ago. And in Los Angeles, the average price of gas is now more than $6 a gallon.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

TEHILLIM: Rav Mattisyahu Salomon Shlit”a Placed On Respirator, In Serious Condition

Tefillos are needed for Rav Mattisyahu Salomon shlit"a, the...

Man Seriously Injured in Fall From Ladder, Transported by Hatzolah

A man was transported to Jersey Shore University Medical...

PHOTOS & VIDEOS: 2 Injured in Fire at Lakewood Home

Two occupants of a home on Aberdeen Drive in...

Federal, State and County Law Enforcement Officials Hold Multiple Meetings with Jewish Leaders Following Threats [PHOTOS & VIDEOS]

Top law enforcement officials have been demonstrating their commitment...