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NJ Gasoline Prices Stabilize After Price Surges

A car is filled with gasoline - File / Photo: THOMAS COEX/AFP/Getty Images

A car is filled with gasoline – File / Photo: THOMAS COEX/AFP/Getty Images

TRENTON, N.J. (AP) — Motorists are finally seeing stable prices at the pumps in New Jersey.

AAA Mid-Atlantic says the average price of regular gasoline on Friday was $3.39, the same as last week. But it’s still much higher than a year ago, when New Jersey motorists were paying $2.63.

The national average price also remained unchanged, staying at $3.54 for the second straight week. But that’s also much higher than the national average from a year ago, which was $2.80.

The stable prices follow weeks of sharp boosts caused by surging crude oil prices, which were driven by the tumultuous situation in Libya and fears that the unrest may spread to other oil producing areas in the Middle East.

(Copyright 2011 by The Associated Press.  All Rights Reserved.)