Gas prices in New Jersey have been dropping a couple cents a gallon per day, but there was no overnight decline from Wednesday to Thursday.

Some analysts are saying this could be the end of the price decline.

As consumers adjusted to the record high prices and changed driving habits, demand for gasoline dropped. Despite oil prices remaining above $100 per barrel, the decrease in demand is what primarily fueled the drop in prices.

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Andrew Gross with AAA says the drop in demand is unusual, "Usually this time of year, with warmer weather and longer days, we’d see an uptick in gasoline demand as more people hit the road, but we had a slight drop in demand last week, which may be due to higher pump prices."

Now, as the market adjusts, and oil prices remain high, prices are unlikely to come down much more.

If the price of oil rises again, the price of gasoline will continue to follow higher.

Those increases, if they happen, will be more rapid than the decline. The reason prices go up faster than they go down is explained here.

The average for a gallon of regular gas in the Garden State is $4.19 as of Thursday morning. That is a dime less than last week. A month ago we were paying $3.61 and a year ago gas cost $2.95 per gallon.

While New Jersey prices remain near record highs, we are faring far better than some parts of the U.S. In Los Angelis, prices have continued to rise and are now averaging $6 per gallon.

Today’s national average for a gallon of gas is $4.25, which is seven cents less than a week ago, 72 cents more than a month ago, and $1.37 more than a year ago.

 

Eric Scott is the senior political director and anchor for New Jersey 101.5. You can reach him at eric.scott@townsquaremedia.com

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Best coffee shops & cafes near NJ beaches

When it comes to food, New Jersey is known for many things such as pizza and pork roll. Don't count us out when it comes to coffee.

With all the hustle and bustle involved in the average New Jersey resident's day, coffee is essential. It doesn't matter whether you're living in the cities of North Jersey or the vacation spots at the shore.

In fact, as the former owner of two Jersey shore coffee houses, Coffee Dot Comedy in Sea Isle City and the Daily Grind in Ocean Grove, I know firsthand how much people at the Jersey shore love their coffee.

With respect to that, I asked my social media following where the best coffee houses at the Jersey Shore were, especially since my two places no longer exist.

Below is what they came up with. (And see this other article for their coffee shop and cafe recommendations for Central Jersey.)