Drivers See Slight Drop At The Pump

TRENTON, N.J. (CBSNewYork/AP) — Motorists are seeing slightly lower prices at the pumps.

AAA Mid-Atlantic says the average price of regular gasoline in New York was $3.87 on Friday, down from around $3.90 last week. That’s still over a dollar higher than last year, when motorists were paying $2.82.

In New Jersey, prices dropped four cents from last week to $3.53. Last year, drivers in New Jersey were paying $2.50.

Meanwhile, the national average price fell 5 cents to $3.61. That’s also much higher than the national average from a year ago, which was $2.73.

Analysts say the falling prices are mostly due to the restoration of U.S. oil and natural gas production and refining capacities in the Gulf of Mexico following several weeks of tropical storm activity.

Why haven’t gas prices dropped to last year’s levels? Sound off in our comments section below…

(TM and Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

  • Jim Horak

    The blame is the blame; the comments on high gas prices, oil company’s huge profits and government issues are unfortunately bringing us no further towards the solution. I am sick of high gas prices and had to find my own personal solution for lower gas prices and discovered new a gas card program. Suspicious as I was, I joined and now have almost eliminated my entire out pocket expenses for gas. It is easy and now with the money we have saved; our family can go on road trips, to movies and more fun stuff. I would advise taking a look but do what you want or find something better; actions speak louder than words.

  • Meme Meyagi

    dismantle opec cartel, and enjoy $1 per gallon gas

  • vwguy3

    The gas prices are just stupid!!!! The barrel of oil is way down, why are the gas prices not going with them. Why is it when oil goes up five bucks, gas goes up .50 cents. But when oil goes down five bucks, gas only goes down down .20 cents. They literally have us over a barrel and they know it!!!!!!!!

  • iggy

    just curious, where is the AAA looking in new york? upstate? in brooklyn, its $4.00 a gallon for regular

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