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Gas prices take unexpected dip in New Jersey

Published  June 9, 2018 3:25pm EDT
U.S.
FOX 29 Philadelphia

TRENTON, N.J. (AP) -- Drivers are seeing prices dip at the pump in New Jersey due to an unexpected increase in crude oil supplies and an increase in East Coast gasoline stocks.

AAA Mid-Atlantic says the average price of a gallon of regular gas in the state on Friday was $2.97, down four cents from last week. Motorists were paying $2.39 for gas in New Jersey at this time last year.

The national average gas price Friday was $2.93 a gallon, down three cents from last week and also higher than the national average a year ago, when motorists were paying $2.36.

Analysts say crude oil prices have settled under $70 per barrel since the Memorial Day weekend, but gas prices aren't expected to drop more significantly this summer.