CBS2-Header-Logo WFAN 1010WINS WCBS tiny WLNYLogo

Gas Prices Dropping Sharply In New Jersey

Gas prices in the Tri-State area (credit: CBS 2)

Gas prices in the Tri-State area (credit: CBS 2)

TRENTON, NJ (AP) – Motorists are seeing sharply lower prices at the pumps in New Jersey.

AAA Mid-Atlantic says the average price of regular gasoline in New Jersey on Friday was $3.67, down 6 cents from last week. It’s also less than the price from a year ago, when motorists were paying $3.88.

Meanwhile, the national average price fell by 7 cents to $3.73. That’s also much lower than the national average from a year ago, which was $3.96.

This marks the fifth straight week prices have fallen in New Jersey.

Analysts say the falling prices are mostly due to declining crude oil prices, easing Mideast tensions and less demand from the United States and European countries.

(Copyright 2012 by The Associated Press. All Rights Reserved.)