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Gas price spike easing, but prices at the pump tick up

May 4, 2019

TRENTON, N.J. (AP) — Analysts say the gas price spike appears to be easing, but drivers in New Jersey and around the nation are still seeing higher prices at the pump.

AAA Mid-Atlantic says the average price of a gallon of regular gas in the state on Friday was $2.93, up a penny from last week. Drivers were paying $2.89 a gallon a year ago at this time.

The national average gas price Friday was $2.89, also up a penny from last week and substantially higher than last year’s national average of $2.81.

AAA expects this summer’s gas prices to be on par with prices last summer last, with the year’s highest prices in May. Heading into summer, analysts say factors including supply-demand levels, U.S. production and crude prices will shape the summer forecast.