May 2, 2020

Gas prices down again but analysts say stabilizing likely

Gas prices down again but analysts say stabilizing likely


Updated

TRENTON, N.J. (AP) — Gas prices have ticked down a bit more in New Jersey and around the nation amid the coronavirus outbreak but analysts say prices are likely to stabilize as the country begins to “slowly reopen.”

AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $2.00, down three cents from a week ago. Drivers were paying $2.93 a gallon a year ago at this time.

The national average gas price Friday was $1.77, down a penny from a week ago. Drivers were paying $2.88 a gallon a year ago at this time

Analysts say some New Jersey drivers are seeing the lowest gas prices in more than four years, but as the country “starts to slowly reopen,” increasing demand is likely to cause gas prices to stabilize and increase slightly.




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