‘It’s a start.’ Gas prices see slight drop, remain high in New Jersey
According to AAA, the national average price of gas has fallen over the last week, with the price of crude oil dropping below $100 per barrel Friday, a low not seen since late February.
In New Jersey, the average price of a gallon of regular gas has dropped by 4 cents in the last week to $4.17 per gallon. It was $2.92 at this time last year.
According to Tom Kloza, a veteran oil analyst at the Oil Price Information Service: "The incredible wild card that we have never dealt with before is it Vladimir Putin. The world needs Russian oil."
President Biden on Thursday announced the release of millions of barrels of crude oil from the strategic reserve, with hopes of helping ease gas prices even more.
Gas prices in New Jersey are 3 cents below the national average.