By David Madden

GLASSBORO, Nj (CBS) — There are only 24 compressed natural gas stations statewide in New Jersey. That was the point behind the hoopla as a new one opened up on Wednesday morning in Glassboro.

South Jersey Gas opened a two pump station behind their local office as about one-hundred invited guests looked on.

Proponents hope CNG will, in fact, be the fuel of the future in this country.

“Take a look at the price of diesel,” said Bob Hanna, President of the State Board of Public Utilities. “I think it’s about four-dollars a gallon, and if you look at the spread between what this is going to cost, that spread should be available to fund the conversion of vehicles or the purchase of new vehicles.”

And compare the price that motorists are now paying for gasoline at the pump. A gallon of compressed natural gas goes, at least at this station, for a $1.69.