Coronavirus Effect On Markets: Gasoline Prices Plummet As Tri-State Area Demand Falls
TRENTON, N.J. (AP) — Gas prices continue to drop in New Jersey and around the nation amid the coronavirus outbreak despite what would usually be a peak time for gas prices just ahead of the summer driving season.
AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $2.03, down four cents from a week ago. Drivers were paying $2.88 a gallon a year ago at this time.
The national average gas price Friday was $1.78, down four cents from a week ago. Drivers were paying $2.86 a gallon a year ago at this time
Analysts say that after weeks of decreasing demand, crude and gasoline storage capacities are reaching their limits — meaning prices will continue to drop.
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