As The Summer Travel Season Ends, Gas Prices In New Jersey Are Falling
RAHWAY, N.J.(CBSNewYork) -- With summer wrapping up and New York area residents going on fewer road trips, gas prices are falling.
If you're looking for gas prices under $3, CBS 2 found them in New Jersey.
At an Exxon in Rahway, regular was being sold for $2.91, across the street on St. Georges Avenue it was available for $2.93.
"Excellent. I love it, I love it. It was $2.95 yesterday and $2.93 across the street," Aleice Jeter told CBS 2's Christine Sloan.
Other cheap deals were available in Edison where regular was priced at $2.99 a gallon.
Experts say this is the time of year when prices decrease. There is less demand for gas with summer ending because people are traveling less which triggers a downward price trend.
It's also the week that refineries start selling gasoline formulated for the winter, which is cheaper.
Some areas, like Rahway, also tend to be more competitive.
"I spent four to five-thousand dollars a month," paving company owner Peter McGlynn said, "This guy over here, the Exxon, I've noticed the only time her ever goes down is when this guy drops his prices. When this guy wasn't here he jacked his prices up 30 cents a gallon."
McGlynn said that he saves hundreds every month by coming to Rahway.
In New York, the average price is about $3.64 a gallon for regular. If you're driving a car with a 12-gallon tank, it will cost more than $43 to fill up; but in New Jersey, the total would be around $34, resulting in a savings of about $9 at the pump.
As cheap as prices in New Jersey are right now, experts say prepare for them to be back up in 2015.
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