Hurricane Ian Could Impact Gas Prices in NJ
WAYNE — Prices have been looking a bit more pleasant at the pump these days in New Jersey.
The average price for a gallon of regular in the Garden State is $3.48, having dropped 11 cents from a week ago when it was $3.59, according to AAA Northeast.
While gas prices in New Jersey are 51 cents cheaper than a month ago ($3.99), they are still 26 cents more than this day a year ago ($3.22).
New Jersey’s average gas price is 24 cents cheaper than the national average which is at $3.72 a gallon.
Low domestic demand as fewer drivers fuel up and much lower oil prices have helped keep gas prices lower. On Friday, the price of oil slipped below $80 a barrel for the first time since January. AAA said that was mostly due to fears of a recession-led global economic slowdown.
While slack demand and lower oil prices should take some pressure off rising gas prices, there is something to be concerned about.
“Hurricane Ian could cause problems, depending on the storm’s track, by disrupting oil production in the Gulf of Mexico and impacting large coastal refineries,” said Robert Sinclair Jr., Senior Manager of Public Affairs for AAA Northeast.
The cheapest gasoline in New Jersey can be found at Diesel and Gas at 210 14th Street, Jersey City. A gallon of regular costs $2.95 cash, according to GasBuddy.com.
Gas prices in New Jersey’s neighboring states are down, as well. Pennsylvania motorists are paying on average, $3.80 for a gallon of regular gas. That’s down a nickel from the week before. New York drivers are paying $3.67, down 11 cents from a week ago. The average price in Connecticut is $3.34 per gallon, a savings of 11 cents from one week ago, as well.