![Will Gas Prices Keep Dropping in NJ?](http://townsquare.media/site/385/files/2023/02/attachment-Untitled-design-2023-02-06T044920.769.jpg?w=980&q=75)
Will Gas Prices Keep Dropping in NJ?
Gas prices drifted lower over the weekend in New Jersey and are projected to fall even more this week.
A gallon of regular is selling at an average price of $3.39, according to AAA.
That is 5 cents lower than a week ago, but still 7 cents higher than what we were paying last month.
Analysts do expect prices to go even lower. "Despite rising gas demand and recently elevated oil prices, the growth in total supply has helped to limit pump price increases," according to AAA.
Many variables
However, AAA also cautions that is dependent on demand remaining low.
Part of the reason for the decline is another interest rate hike by the U.S. Federal Reserve. Fed Chair Jerome Powell indicated more rate increases are likely to help further tame inflation.
"As a result," AAA says, "The market believes oil demand could be less than expected this year, pulling prices down."
![WPG Talk Radio 95.5 FM logo](https://townsquare.media/wp-content/uploads/2019/08/WPGGAM.png?w=100)
Analyst Patrick De Haan with GasBuddy.com declared, "Not a bad way to start the weekend."
De Haan believes "we could see gas prices decline over the next week or two."
Gas prices are less than we were paying a year ago in New Jersey by about a dime per gallon.
Somerset County remains the most expensive place to buy gas in the Garden State, averaging $3.51 per gallon for regular.
LOOK: See how much gasoline cost the year you started driving
OMG! Cutest pets in New Jersey!
More From WPG Talk Radio 95.5 FM
![NY men face burglary charges for car break-ins at NJ parks](http://townsquare.media/site/385/files/2024/07/attachment-NY-men-accused-of-break-ins-at-parked-cars-in-NJ-Google-Maps-SCPO-Canva.jpg?w=980&q=75)
![Police make separate NJ child pornography arrests, days apart](http://townsquare.media/site/385/files/2024/07/attachment-Separate-NJ-child-pornography-arrests-Arthur-Pitt-top-Allana-Arrieta-bottom-Burlington-County-Prosecutors-Office-Somerset-County-Prosecutors-Office-Canva-Townsquare-Illustration.jpg?w=980&q=75)
![CDC warning for NJ: Rising virus cases as temperatures heat up](http://townsquare.media/site/385/files/2024/07/attachment-NJ-Health-map2.jpg?w=980&q=75)
![Dad and son, looking to make a blast, turn NJ neighborhood into warzone, cops say](http://townsquare.media/site/385/files/2024/07/attachment-Kaisers.jpg?w=980&q=75)
![Blood and shrapnel: Bomb set off at Manville, NJ block party](http://townsquare.media/site/385/files/2024/07/attachment-manville-shrapnel.jpg?w=980&q=75)
![NJ man charged with sexual assaults of 2 boys in church bathroom](http://townsquare.media/site/385/files/2024/07/attachment-Pierre-Joseph-feature.jpg?w=980&q=75)
![Fugitive NJ truck driver arrested after Route 1 crash killed 3](http://townsquare.media/site/385/files/2024/07/attachment-3-victims-killed-in-April-Route-1-crashbrennacellinifuneralhomes.com-Legacy.com-SaulfuneralhomesSouth-Brunswick-Police-via-X.jpg?w=980&q=75)
![Young NJ duo accused in string of smash-and-grab burglaries](http://townsquare.media/site/385/files/2024/06/attachment-NJ-duo-accused-of-smash-and-grab-burglaries-SCPO-Canva.jpg?w=980&q=75)
![NJ ex-cop admits causing drunken crash that killed 2 passengers](http://townsquare.media/site/385/files/2024/06/attachment-Amitoj-Oberoi-near-site-of-deadly-crash-in-Somerset-Google-maps-SCPO.jpg?w=980&q=75)