TRENTON, N.J. — New Jersey drivers paid less at the pump this week, with the statewide average for a gallon of gasoline falling 3 cents to $4.12, according to a weekly survey released Monday by fuel price tracker GasBuddy.
The company said its survey of 3,525 New Jersey stations found the average is 17.6 cents lower than a month ago but $1.16 higher than at this time last year, when it stood at $2.96 a gallon.
Prices varied widely around the state. GasBuddy said the cheapest station it tracked in New Jersey on Sunday was charging $3.75 a gallon, while the most expensive was at $5.79, a gap of $2.04.
In the Trenton area, the average dropped 6.8 cents to $4.07 a gallon, and the Toms River average slipped 3.8 cents to $4.13, the company said. Across the Delaware River in Philadelphia, prices moved the other way, rising 6.8 cents to $4.36.
Nationally, the average price of gasoline fell 17.1 cents over the week, also landing at $4.12 a gallon, according to GasBuddy. The national average is down 24.7 cents from a month ago and $1.13 higher than a year ago. The average price of diesel fell 5.9 cents to $6.281 a gallon.
Patrick De Haan, head of petroleum analysis at GasBuddy, attributed the decline to the end of refinery maintenance season and weaker demand as the weather cools.
“That combination has given gasoline and diesel prices some much-needed breathing room, and motorists are finally seeing relief at the pump,” De Haan said.
He cautioned that the trend may not last. De Haan said oil fell nearly $2 in Sunday trading, with West Texas Intermediate crude at $102.15 a barrel and Brent at $111.52, but that “volatility could return quickly after the election.”
“Whether new attacks occur or a truce takes hold around the Strait of Hormuz, along with continued Ukrainian strikes on Russian refineries, will likely dictate where prices head as we move closer to the holidays,” he said.
GasBuddy said its national figures are compiled from more than 11 million weekly price reports covering over 150,000 stations.
This report is based on a press release from GasBuddy.
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