Gas prices drop again, but higher prices on the horizon
TRENTON, N.J. (AP) — Gas prices in New Jersey have dropped again, but analysts say higher prices are on the horizon.
AAA Mid-Atlantic says the average price of a gallon of regular gas in the state on Friday was $2.67, down three cents from last week. Motorists were paying $2.33 for gas in New Jersey at this time last year.
The national average gas price Friday was $2.54, down six cents from a week earlier. That’s also higher than the national average from a year ago, when motorists were paying $2.29.
Crude oil prices have remained lower and oil and gas supplies have risen, but AAA expects a change soon and a spike in the year’s second quarter with refinery maintenance reducing output and the switch to more expensive summer blend gasoline.