AAA Mid-Atlantic: New Jersey gas prices down sharply

| 15 Feb 2012 | 08:57

    TRENTON — Motorists are still 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 $3.53, down 5 cents from last week. That marks the third straight week that gas prices have fallen in New Jersey. But the current cost is still much higher than it was a year ago, when motorists were paying $2.58. Meanwhile, the national average price fell by 2 cents to $3.59. But that's also much higher than the national average from a year ago, which was $2.73. Analysts say the sharp price decreases are mostly due to the ongoing economic volatility spurred by concerns about the national and global economies, which has affected the price of crude oil.