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The Week
The Garden State has seen little movement at the gas pump this week as gas prices either hold steady or change by a penny. In the new weekly report from the Energy Information Administration (EIA), gas demand dropped last week to the lowest weekly estimate since the end of May. The decrease in demand, alongside an increase in total domestic stocks helped lower the national average this week and has helped keep local averages from increasing. As demand continues to drop, especially amid rising coronavirus cases, pump prices will be poised to follow suit ahead of winter. 

Today’s national gas price average is $2.15, down a penny in the last week, up four cents in the last month, and down 42 cents from this time last year.

                      CURRENT AND PAST GAS PRICE AVERAGES
                       Regular Unleaded Gasoline (*indicates record high)

 

12/11/20

Week Ago

Year Ago

National

$2.14

$2.15

$2.57

New Jersey

$2.28

$2.28

$2.55

Trenton

$2.35

$2.35

$2.59

Cape May County

$2.39

$2.38

$2.50

Burlington

$2.28

$2.28

$2.47

Middlesex, Somerset, Hunterdon Counties

$2.31

$2.32

$2.56

Monmouth, Ocean Counties

$2.33

$2.33

$2.54

Crude Oil

$46.57 per barrel (12/11/20)

$46.26 per barrel (12/4/20)

$60.07 per barrel (12/13/19)

 

At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $46.57 per barrel, 31 cents higher than last Friday’s close. Crude prices continue to rise due to increasing optimism that coronavirus vaccines will be available in the coming weeks, which could help boost domestic crude demand. Crude prices increased despite EIA’s weekly report that revealed a surprising increase in total domestic crude inventories. The increase in supply could mean that domestic crude production is too high given current demand trends. 

The Weekend
“New Jersey gas prices didn’t move much in either direction this week,” said Tracy Noble, manager of Public and Government Affairs for AAA Mid-Atlantic. “Crude oil prices have remained higher even as demand continues to decline amid rising coronavirus cases but drivers should see pump prices trend lower heading into the winter driving season.”

AAA has a variety of resources to help motorists save on fuel:

AAA is the most comprehensive resource for gas prices. Unlike the Lundberg Survey of 7,000 gas stations, AAA reports reflect actual prices from credit card transactions at more than 100,000 gas stations in the U.S.

Next Weekend Gas Watch: Friday, December 18, 2020

AAA has a variety of resources to help motorists save on fuel:


 


AAA provides automotive, travel, and insurance services to 60 million members nationwide and nearly two million members in New Jersey.AAA advocates for the safety and mobility of its members and has been committed to outstanding road service for more than 100 years. AAA is a non-stock, non-profit corporation working on behalf of motorists, who can now map a route, find local gas prices, discover discounts, book a hotel, and track their roadside assistance service with the AAA Mobile app (AAA.com/mobile) for iPhone, iPad and Android. For more information, visit www.AAA.com.

AAA Mid-Atlantic News is on Facebook - please Like us!

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TEDx Wilmington Salon

Who's in the Driver's Seat? The Transformation of Transportation

On Tuesday, October 17, 2017, AAA and TEDx Wilmington held the first TEDx Salon dedicated to ideas worth spreading in transportation.

This event had:

  • 12 live talks given by 13 speakers
  • 368 people in attendance at the live event
  • More than 7,500 viewed the event online through Livestream, viewing events, and on the AAA Associate network
  • Online viewers came from all 50 states and approximately 30 countries around the world

View a slideshow from the event

This TEDx WilmingtonSalon was organized in partnership with AAA

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