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Prices Dropping At The Pump In New Jersey

TRENTON, N.J. (CBSNewYork/AP) -- Motorists in New Jersey have been seeing sharply dropping prices at the pumps in recent the past week.

But prices as of Friday were still much higher than they were a year ago.

AAA Mid-Atlantic said the average price of regular gasoline in New Jersey on Friday was $3.43, down 6 cents from last week. A year ago, motorists were paying $3.18.

Meanwhile, the national average price fell by 3 cents to $3.37 – still higher than the national average from a year ago, which was $3.29.

Analysts said gas prices should continue to fall in New Jersey in the coming weeks as demand decreases and crude oil prices likely remain low.

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(TM and Copyright 2012 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 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 This material may not be published, broadcast, rewritten, or redistributed.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.)

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