Average gas prices in the Tri-State Area have fallen, but remain at least a dollar higher than last year. AAA Mid-Atlantic says the average price of regular gasoline in New Jersey on Friday was $3.58, down 8 cents from last week. That’s still much higher than the cost a year ago, when motorists were paying $2.61.In New York, the current $3.91 for regular unleaded is down from last week’s $3.96, but is still higher than last year’s $2.91 average.
Connecticut also sees higher than last year’s gas prices, with a gallon averaging $3.97, as compared to last year’s $2.89. Although the current average is down from $4.04 a week ago.
Meanwhile, the national average price fell by 9 cents to $3.61. But that’s also much higher than the national average from a year ago, which was $2.78.
Analysts say the price decreases are mostly due to the ongoing economic volatility spurred by concerns about the national and global economies. That’s brought down the price of crude oil.