CBS2-Header-Logo WFAN 1010WINS WCBS tiny WLNYLogo

News

Drivers See Slight Drop At The Pump

View Comments
Gas Pump (file / credit: David Paul Morris/Getty Images)

Gas Pump (file / credit: David Paul Morris/Getty Images)

TRI-STATE NEWS HEADLINES

From our newsroom to your inbox weekday mornings at 9AM.
Sign Up

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 This material may not be published, broadcast, rewritten, or redistributed.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.)

View Comments