Gas Prices Continue To Sink In Verona-Cedar Grove

Gas prices continue to sink in New Jersey after Labor Day weekend, leading some industry experts to speculate that fuel prices might sink to $1.50 per gallon by Christmas.

After reaching an average of $2.07 on Sept. 2, New Jersey gas stations are now serving up gas at an average of $2.04.

And that price is falling, according to GasBuddy.com, a website that compiles and compares fuel prices at 130,000 gas stations across the nation.

According to the website, many stations are already dipping below the $2 mark, including in Englewood, which has the lowest-priced gas in the state at $1.73 (as of Thursday evening).

But could that price sink to below $1.50 per gallon as soon as December?

That’s the forecast that Jeff Pelton, a senior petroleum analyst for Gas Buddy, recently offered to NJ.com.

“Our expectations are that gasoline prices will drop 10 to 12 cents each month through December, based on the huge glut of crude and the combination of exiting driving season and the changeover to cheaper to refine winter blends of gasoline,” Pelton told NJ.com.

GasBuddy’s cheap gas search feature can be accessed here.

CHEAP GAS IN ESSEX COUNTY

As of Thursday evening, here’s where GasBuddy states that the cheapest gas in Essex County can be found:

• Gulf – Verona - $1.85 (cash)
• Delta – Fairfield - $1.85 (cash)
• Sunoco – West Caldwell - $1.87 (cash)

Photo taken on Sept. 16, courtesy of the city of West Orange via Twitter

Want a second opinion? Find the cheapest place to fill your tank with the below widget, courtesy of MapQuest.