Gas Prices Drop Again, But Higher Prices On The Horizon

TRENTON, N.J. (CBS/AP) — Gas prices across the Philadelphia region have dropped again, but analysts say higher prices are on the horizon.

AAA Mid-Atlantic says the average price of a gallon of regular gas in Philadelphia on Saturday was $2.82, down three cents from last week. But that's an increase of 30 cents from this same time last year.

In New Jersey, motorists were paying $2.67. That's also down three cents from last week. But drivers were paying $2.33 for gas in the Garden State at this time last year.

The national average gas price Saturday was $2.53, down six cents from a week earlier. That's also higher than the national average from a year ago, when motorists were paying $2.29.

Crude oil prices have remained lower and oil and gas supplies have risen, but AAA expects a change soon and a spike in the year's second quarter with refinery maintenance reducing output and the switch to more expensive summer blend gasoline.