Drivers Finally To Get Break At Pump In New Jersey, Elsewhere
TRENTON, N.J. (CBSNewYork/AP) — Drivers are finally getting a break at the pump with a fall in gas prices in New Jersey and around the nation.
AAA Mid-Atlantic says the average price of a gallon of regular gas in the state on Friday was $2.92, down a penny from last week and matching the average price a year ago at this time.
The national average gas price Friday was $2.87, down two cents from last week. Drivers were paying an average of $2.85 a gallon at this time last year.
MORE: Brace Yourselves, N.J. Drivers, The Gas Tax May Go Up Again
Analysts say increased supplies of gasoline along the East coast and crude oil prices below $63 have helped to keep prices in check three weeks before the Memorial Day holiday weekend and the unofficial start of the summer driving season.
The break cames a season before the New Jersey gas tax is expecting another possible increase next fall. The New Jersey Gasoline Store and C-Store Automotive Association said that will put the cost of gas in the Garden State right in line with New York's high prices.
New Jersey motorists once paid one of the lowest gas taxes in the country, but have already seen the tax jump 23 cents per gallon under a deal made by former Gov. Chris Christie and the Democratic Legislature to fund the Transportation Trust Fund. The tax went up 4.3 cents last fall in order to meet revenue projections and now it may go up again.
(© Copyright 2019 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)
