Gas prices drop again despite crude hike, inventory drop
TRENTON, N.J. (AP) — Gas prices in New Jersey have continued to decrease despite crude oil price increases and a drop in gasoline inventories.
AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $2.55, two cents lower than last week and substantially below the average $2.89 at this time last year.
The national average gas price Friday was $2.57 a gallon, unchanged from last week and also well below the average of $2.85 at this time last year.
Analysts say gasoline demand generally declines in early September as refineries undergo maintenance and prepare to switch to less-expensive winter-blend gasoline (summer-blend gasoline has a lower volatility to limit emissions during warm weather), but decreasing supplies along the East Coast may temporarily interrupt the seasonal price drop.