Prices At More NJ Gas Stations Dip Below $3

By Jim Melwert

CHERRY HILL, NJ (CBS) - Some good news at gasoline pumps in the Garden State.

As prices slowly drop, more and more stations in South Jersey are breaking under the $3 mark, including two of them at the intersection of Route 70 and Kings Highway.

Gary Griffith from Marlton says he knows the difference is only a couple pennies, but it means more than that to him, "I always felt that it would never go below $3 again, so good. It's a good thing."

The $3 mark means something to Ron Lewis from Cherry Hill. "I never thought it would get down to there, never, never. The prices kept getting close, but it never got under $3. I hope it keeps going down."

The average gallon of gas in New Jersey is still over $3, where it's been since early 2011.

But the $3.09 average is $0.15 cheaper than the national average, and $0.21 cheaper than in Pennsylvania.

Analysts credit the falling prices to high supply, low demand and the shift to cheaper winter-blend.