Drop In Gas Prices Has Motorists Rejoicing
NORTH ARLINGTON, N.J. (CBSNewYork) -- Drivers are seeing more green in their wallets thanks to a drop in gas prices.
And as TV 10/55's Ilana Gold reports, a trip to grandmother's house will cost you much less this holiday season.
Filling up at a gas station in North Arlington, New Jersey, were several very pleased motorists.
Drop In Gas Prices Has Motorists Rejoicing
"It's unbelievable," said Dave Hemlfedler.
"Fantastic!" Susan Turre said.
"Outrageous! Very good," said Danny Pedone.
At $2.07 a gallon, plenty of New Jersey drivers were getting in line to take advantage of plunging gas prices -- something they haven't seen in years.
"It's one car after another. They don't stop," said one worker.
In New Jersey, the average price per gallon is $2.52, down from $3.29 a year ago.
And in New York, $2.99 is the average, compared with $3.67 last year.
Connecticut drivers are seeing prices down to $2.92, while last year's average was $3.67.
That's a $10 to $12 savings for every tank, Gold reported.
"I never fill up my gas tank up for $27. It's amazing," said Turre.
Drivers say the drop in gas prices couldn't have come at a better time, and they already know how they'll spend the extra cash.
"Christmas time, gotta get presents," Pedone said.
According to AAA, prices could drop another 15 to 20 cents through the holidays.
Experts say you'll see the cheapest Christmas since 2008, partly because the global price of crude oil has dropped and the U.S. and Canada have started producing more oil.
"It's a fundamental of too much supply and a little bit of a slowdown in demand in emerging countries," said Tom Kloza, global head of energy analysis at the Oil Price Information Service.
Though experts warn drivers shouldn't get too used to these prices. They're likely to go back up in the spring.
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