NJ Gas Prices Dropping

Here's one positive that comes with the colder weather - lower prices at the pump.

Kevork Djansezian, Getty Images

According to the Oil Price Information Service (OIPS) in Wall Township, today's average price for a gallon of regular gasoline is $3.62. The average price was $3.73 a week ago, and it was $3.78 this time last month.

Last year, prices averaged at $3.34 per gallon, but OIPS Director of Retail Pricing Fred Rozell said New Jersey's prices should reach a similar level in the next few weeks.

"We have a lot of supply; we're getting a lot of imports in; refineries are back to normal for the most part," Rozell said.

Refineries have switched from the summer grade of fuel to the less-expensive winter grade. That has typically sent pump prices downward, and the last few weeks show this year is no different.

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