Drivers can expect lower prices at the pump
Experts predict gas prices will fall as Memorial Day approaches, instead of rising just as summer vacations begin.
Prices were expected to top $3 per gallon by Memorial Day. Experts now say it is likely that prices have peaked just below that price.
Wholesale gas prices have plummeted in the wake of rising supplies and concerns about the global economy.
The drop in wholesale prices will take a few weeks to reach the pump.
The average price for a gallon of regular in the Garden State is at $2.76, down 4 cents from last week.
Last year, drivers in New Jersey were paying just $2.13 for a gallon of regular.
AP wires contributed to this report.