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Gas prices drop due to lower crude oil prices, demand

November 10, 2018

TRENTON, N.J. (AP) — Gas prices have dropped further in New Jersey and around the nation due to lower crude oil prices and reduced demand.

AAA Mid-Atlantic says the average price of a gallon of regular gas Friday in New Jersey was $2.72, down six cents from last week. Motorists were paying $2.58 for gas in New Jersey at this time last year.

The national average gas price Friday was also $2.72 a gallon, also down six cents. The national average a year ago was $2.56 a gallon.

Analysts say New Jersey gas prices have dropped for more than 30 days, and local drivers are saving 10 to 20 cents per gallon compared to the Memorial Day peak. If crude prices and demand keep dropping, lower gas prices are likely ahead of Thanksgiving.

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