Coronavirus New Jersey: Gas Prices Still Plunging Amid Low Demand, Record Inventory
TRENTON, N.J. (AP) — Gas prices are still plunging in New Jersey and around the nation amid the coronavirus outbreak with demand down as much as 50% in some places as inventory has risen to a record high. AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $2.07, down three cents from a week ago.
Drivers were paying $2.78 a gallon a year ago at this time.
The national average gas price Friday was $1.82, down six cents from a week ago. Drivers were paying $2.83 a gallon a year ago at this time
Analysts say crude prices hit a low not seen since 2002 this week as demand has dropped to levels not seen in over half a century, and that imbalance means prices at the pump should continue to decline.
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