TRENTON, N.J. — New Jersey drivers got some relief at the pump, with the statewide average for a gallon of gasoline falling 6.9 cents over the past week to $4.05, according to GasBuddy.
The fuel-price tracking company said Monday that its survey of 3,525 New Jersey stations found the average is 24.1 cents lower than a month ago but still $1.07 higher than at this time last year, when drivers paid $2.98 a gallon.
Prices varied widely across the state. GasBuddy said the cheapest station it tracked in New Jersey on Sunday was selling gas for $3.67 a gallon, while the most expensive charged $5.79, a gap of $2.12.
In the Trenton area, the average was $4.06, down 0.9 cents from a week earlier. Toms River drivers saw a steeper drop of 8.7 cents to $4.05, while Philadelphia-area prices fell 5.9 cents to $4.30, the company said.
Nationally, the average price of gasoline fell 15.9 cents in the past week to $3.96 a gallon, slipping below $4 for the first time since early August, according to GasBuddy. The national average is down 39.3 cents from a month ago but 92.2 cents higher than a year ago.
Diesel also eased. The national average for diesel fell 9.5 cents from a week ago to $6.186 a gallon, the company said.
Patrick De Haan, head of petroleum analysis at GasBuddy, said prices fell in every state over the past week and attributed the decline mainly to seasonal factors rather than last week’s election.
“Many will assume the election had something to do with it, but that’s a myth,” De Haan said. “Gas prices have fallen in the 30 days leading up to the election every year since 2006 except 2010, and it’s typically seasonal: refiners finish maintenance and ramp up output just as demand fades with cooler weather.”
De Haan said those same forces, along with more oil moving through the Strait of Hormuz, could keep prices below $4 in the coming weeks. He added that the election’s outcome “may send a message to Washington to sharpen its focus on affordability,” but said “for now, it’s the seasonal shift, not politics, driving the relief at the pump.”
GasBuddy’s historical data show New Jersey’s average on Nov. 9 was $2.90 in 2024, $3.30 in 2023, $3.92 in 2022 and $3.44 in 2021, making this year’s price the highest for the date in at least five years.
This report is based on a press release from GasBuddy.
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