TRENTON, N.J. (AP) — Gas prices are continuing their summertime slide with double-digit reductions in New Jersey and around the nation amid a decline in demand and a drop in oil prices.
AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $4.51, down 12 cents from last week. Drivers were paying $3.17 a gallon on average a year ago at this time.
The national average price for a gallon of regular gasoline was $4.41, down 16 cents from last week. Drivers were paying $3.15 a gallon on average a year ago at this time.
Analysts say “global economic headwinds" are pushing oil prices down and U.S. drivers “are fueling up less despite this being the height of the traditional summer driving season."