NJ Gas Prices Fall to Lowest Level in a Month

Gas prices have now fallen to their lowest level in a month, averaging just over $4 per gallon for regular in New Jersey.

Prices continue to drop about a penny a gallon each day. The statewide average is $4.04, but many counties are reporting an average at or below the $4 mark.

The cheapest gas in the state continues to be in Burlington County, where the average is $3.95.

Mercer, Somerset, Hudson, and Essex Counties are all averaging near or above $4.10 per gallon.

Overall, prices are down statewide by about 25-cents per gallon since last month, when prices were still moving higher.

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Analysts say the release of historic amounts of oil from the U.S. strategic reserve continues to put downward pressure on the gasoline market.

Will NJ see more relief?

There continues to be debate about whether New Jersey will take specific action to bring drivers more relief.

Gov. Phil Murphy has said is committed to doing "something," but has yet to commit to any specific plan. He has signaled some support for State Sen. Ed Durr's (R-Gloucester) measure to offer a one-time $500 tax credit or rebate to drivers to offset high gas prices.

While Murphy has called for a "federal tax holiday," he does not support temporarily cutting or suspending New Jersey's gas tax. That may actually be good news for drivers.

Any savings from gas tax holidays in other states are expected to be short-lived. In Maryland, for example, their gas tax holiday is expiring and prices are expected to jump as much as 40-cents in a day.

Also off the table in New Jersey is allowing you to pump your own gas. Both Murphy and Senate President Nick Scutari have said they don't support it because they are unconvinced it would save any money.