Gas prices drip again in NJ and around the nation
TRENTON, N.J. (AP) — Gas prices have dipped again in New Jersey and around the nation, but analysts are warning that rising crude oil prices could halt the trend.
AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $3.41, down a penny from last week. Drivers were paying an average of $2.32 a gallon a year ago at this time.
The national average price for a gallon of regular gasoline was $3.31, down two cents from last week. Drivers were paying $2.20 a gallon on average a year ago at this time.
Analysts say gas prices tend to dip at this time of year due to to shorter days and lower demand, and that trend got an assist from a recent drop in oil prices due to fears over the omicron variant. But analysts say the variant’s impact on pricing appears to be fading, and it remains to be seen whether oil prices stabilize or rise.