Fuel Prices Could Be Headed Below $3.00 Per Gallon In Parts of South Jersey
By Paul Kurtz
BERLIN, N.J. (CBS) -- Gasoline prices in South Jersey are at their lowest level in six months. And they may not have bottomed out just yet.
There at least four gas stations in Berlin and Atco charging $3.039 for a gallon of gas. That's welcome relief for motorists.
"I think its fantastic, and I'm happy that I had the opportunity," said one. "I happened to be driving by, so it's great."
"Certainly if you're paying less it's a good thing," said another. "I have more money to spend on other things."
Raj Singh, who manages a number of Lukoil stations in the area, has seen all the highs and lows, and predicts pump prices will dip under the $3.00 mark in the coming weeks.
"They're going to $2.99, 97, 98, somewhere around," he tells KYW Newsradio.
Oil analysts say reduced demand and increased production in the US led to the current drop in prices.