Reporting Jim Melwert
Filed underBusiness & Economy, Heard On, Local, New Jersey, News, Philadelphia, Traffic & Transportation, Watch + Listen
By Jim Melwert
PHILADELPHIA (CBS) – A bit of good news at the pump, as gas prices have been falling.
But how far will they go?
The average, nationwide, is down six-cents from last week, and 36-cents from this time last year, to $3.46 a gallon. That average gallon is a penny higher in the Philadelphia area, but in New Jersey, it’s 16-cents cheaper.
Despite the lowest prices since January, it’s still over 1,000 days since the average gallon of gas cost less than $3.00, so even with the dip, drivers like Joella from Cherry Hill say $3-plus gas seems to be the new normal:
“I don’t want it to be, I mean a year or two ago, I’d say if we got to $3, I’d be mad, but now I do it without thinking.”
Analysts cite several reasons for the dip in price, including the end of the summer driving season, and a dip in crude prices, but also some other factors, like an aging population that is driving less, and the rise of more fuel-efficient cars.