NJ Gas Prices Level Off [AUDIO]
Motorists are seeing stable prices at the pumps in New Jersey.
AAA Mid-Atlantic says the average price of regular gasoline in New Jersey on Friday was $3.69, which is unchanged from last week. But that's still higher than the price from a year ago, when motorists were paying $3.56.
Meanwhile, the national average price dropped by a penny to $3.82. But that's still higher than the national average from a year ago, which was $3.66.
Analysts expect gas prices will start falling in the coming weeks, as demand decreases and stations switch to less expensive winter blends. They also note that many oil platforms and refineries that were shut down last week due to Hurricane Isaac quickly went back online after the storm passed through the Gulf of Mexico.
Tom Kloza, chief analyst at the Oil Price Information Service (OPIS) and AAA partner, believes prices will decline during the fall months and that a gas price of $3.25 per gallon nationally is possible by December.
(Copyright 2012 by The Associated Press. All Rights Reserved.)