Gas is Super Cheap — Just When Almost Nobody is Driving
Gas prices keep going down in New Jersey and elsewhere as crude oil prices decline — along with demand.
The average price in New Jersey on Thursday was $2.23 per gallon, a 2-cent drop since Wednesday. A week ago it was $2.32 per gallon. A month ago it was $2.52.
The national average, meanwhile, is $2.06 per gallon.
"It is hard to tell exactly how low our prices can go," said Tracy Noble, a spokeswoman for AAA/Mid-Atlantic. "Prices in our nearby neighboring state of Delaware have reached that $2-per-gallon mark, so it is quite possible that they can reach going lower in New Jersey."
Creeping ever-closer to the $2-a-gallon mark at a time of year when prices usually rise. Every spring the state's refineries switch their blend to a warmer weather gasoline mix to cut air pollution. The summer mix is more expensive to produce, and the increased cost is passed along to the state's motorists.
"Typically, we see the prices go up at a penny a day. We've been seeing one or two-cent drops per day, which is unprecedented," Noble said.
She says the lack of consumption and crude oil prices that have slumped $10-a-barrel in a week are combining to lower the pump price.
"It is good news for the consumer. But unfortunately, consumers are not in a position to take advantage of it because people are not driving."