NJ Gas Prices Stay Low

Motorists are seeing sharply lower prices at the pumps in New Jersey.

AAA Mid-Atlantic says the average price of regular gasoline in New Jersey on Friday was $3.35, down 8 cents from last week. But that's still much higher than the price from a year ago, when motorists were paying $3.16.

But the dip may be slowing.

"There is a small chance that pump prices could rise or remain flat as a result of rising oil prices and other economic factors.” 

Meanwhile, the national average price fell by 6 cents to $3.29. That's still higher than the national average from a year ago, which was a nickel or so more expensive.

The U.S. Labor Department says the cost of gasoline dropped 7.4 percent last month, the biggest drop in almost four years.

Analysts say gas prices should continue to fall in New Jersey and nationwide through the end of the year.