Business & Finance

AAA Says New Jersey Gas Prices Continue Downward Trend

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FLORHAM PARK, NJ — Gas prices continue to drop to multi-year lows, with today’s average price of $1.97 per gallon representing the cheapest average price at the pump since March 23, 2009.

National gas prices have fallen for 55 of the past 66 days for a total savings of 26 cents per gallon and should remain relatively low because there is more than enough oil and gasoline around the world to meet demand. Across the country, drivers are saving an average of three cents per gallon on the week, five cents per gallon on the month and 17 cents per gallon versus this same date last year.

Mirroring the national trend, New Jersey gas prices continue to decline, AAA reports. The average price for a gallon of regular gasoline is $1.81, two cents cheaper than last week, 11 cents from one week ago and 30 cents from one year ago. Locally, motorists in Essex, Morris and Union Counties are paying an average of $1.84 for a gallon of regular gas, down one cent from last week, 10 cents from last month and 25 cents from last year.

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“Historically, we see demand for gasoline hit its lowest point in January. That factor, combined with falling crude oil prices and an abundant domestic supply, continues to drive down prices at the pump,” said Cathleen Lewis, Director of Public Affairs and Government Relations.

Region

Current Price*

One Week Ago

One Month Ago

One Year Ago

Statewide

$1.81

$1.83 (-$0.02)

$1.92 (-$0.11)

$2.11 (-$0.30)

Essex County

$1.85

$1.86 (-$0.01)

$1.95 (-$0.10)

$2.05 (-$0.30)

Morris County

$1.86

$1.86 (-$0.00)

$1.94 (-$0.08)

$2.15 (-$0.29)

Union County

$1.82

$1.85 (-$0.03)

$1.94 (-$0.12)

$2.09 (-$0.27)

 *Current prices reflect Jan. 11, 2016.

New Jersey drivers are enjoying the lowest gas prices in the area. Drivers in Connecticut, New York and Pennsylvania are paying $2.10, $2.19 and $2.13, respectively, for a gallon of regular gas.

Top 5 States

Least Expensive

Top 5 States

Most Expensive

Missouri

$1.65

California

$2.85

Oklahoma

$1.69

Hawaii

$2.67

South Carolina

$1.72

Nevada

$2.48

Arkansas

$1.72

Alaska

$2.46

Alabama

$1.72

Washington

$2.42

 

AAA’s Fuel Gauge Report is your best resource for up-to-date information on gas prices. You can search gas prices averages for Regular, Plus, Premium and Diesel on the National and State levels, as well as by Metro area.

AAA Northeast in New Jersey provides automotive, travel, insurance, financial and educational services to its nearly 400,000 members in Essex, Morris and Union Counties.

TAPinto is proud to highlight one of its sponsors this week, AAA.
 
TAPinto Livingston thanks AAA for their continuing support to help us deliver important news to the residents of this community on a daily basis. Because of sponsors like AAA, TAPinto is completely free to subscribers.
 
To learn more about becoming a sponsor of TAPinto, contact Jessica Marrone-Parkes (973) 220-9237.

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