Gas Prices Fall In NJ Before 4th Of July: Will It Last?

NEW JERSEY — New Jerseyans hitting the road for 4th of July weekend could be in for some luck. While gas prices will remain higher than any Independence Day since the advent of the automobile, the recent drop in costs could continue.

But they may not last.

The average gallon of gas in New Jersey cost $4.87 as of Wednesday — about a cent higher than the national average — while diesel in the Garden State hit $5.95, according to AAA. That's an improvement over earlier this month, when the average gallon hit $5 on June 7 for the first time in state history. But it's a far cry from last year, when gas cost $3.12 per gallon entering 4th of July weekend.

The fall in oil prices has ushered the price reductions at the pump for the past two weeks, according to Patrick De Haan, GasBuddy's head of petroleum analysis. And that could continue for a third straight week, he says.

"While prices will be at their highest July 4th level ever, they’ll have fallen close to 20 cents since our peak in early June," De Haan said of national trends. "Motorists should be wary that while the decline could continue for the week ahead, any sudden jolts to supply could quickly cause a turnaround, and risk remains that when the peak of hurricane season arrives, we could see a super spike at the pump."

Earlier this year, the demand for travel increased, but it began to taper off recently, according to Paula Twidale, AAA Travel's senior vice president. The holiday weekend could indicate demand for the rest of the summer.

AAA anticipates 42 million people traveling by car during the holiday weekend — a 0.4 percent increase over last year and 1.1 percent increase from 2019. Recent issues with air travel and flight cancelations may be contributing to the increase, as AAA expects the share of people traveling by air to hit its lowest mark since 2011.

"People are ready for a break and despite things costing more, they are finding ways to still take that much-needed vacation," Twidale said.

Here's the average price for a gallon of gas as of Wednesday, according to AAA:

• Sussex County: $4.88
• Passaic County: $4.86
• Bergen County: $4.86
• Warren County: $4.81
• Morris County: $4.90
• Essex County: $4.91
• Hudson County: $4.93
• Hunterdon County: $4.94
• Somerset County: $5.05
• Union County: $4.91
• Middlesex County: $4.91
• Mercer County: $4.93
• Monmouth County: $4.87
• Ocean County: $4.87
• Burlington County: $4.84
• Camden County: $4.82
• Gloucester County: $4.87
• Atlantic County: $4.84
• Salem County: $4.88
• Cumberland County: $4.86
• Cape May County: $4.90