TRENTON, N.J. (AP) — Gas prices dipped in New Jersey and dropped further around the country as a whole amid a decline in oil prices, analysts say.
AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $3.42, down a penny from last week. Drivers were paying an average of $2.28 a gallon a year ago at this time.
The national average price for a gallon of regular gasoline was $3.33, down four cents from last week. Drivers were paying $2.15 a gallon on average a year ago at this time.
Analysts say crude oil prices, after declining to nearly $65 per barrel amid fears of an economic slowdown due to the new COVID variant, rebounded above $70 per barrel last week, likely steadying the recent drop in gas prices.