Watch CBS News

AAA: Gas Prices Likely To Stay Low Through Winter

TRENTON, N.J. (CBSNewYork/AP) - Those traveling by car this holiday season can breathe a little easier, and with a heavier wallet.

Gas prices continue to drop, and could stay low throughout the winter, says AAA.

AAA Mid-Atlantic's latest statistics show that a gallon of regular unleaded gasoline in New Jersey cost an average of $2.65 last week. That's 62 cents lower than a year ago.

Nationwide, prices are at their lowest in four years. The national average for a gallon of regular unleaded fell eight cents last week to $2.71, down 54 cents from a year ago. Lower crude oil costs are credited for the decrease.

AAA anticipates prices dropping another 15 to 20 cents through the holiday season. If that occurs, prices will be at their lowest in December since 2009.

Prices are expected to stay low through the winter due to abundant supplies and OPEC's decision to maintain crude oil production.

You Might Also Be Interested In:

(TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.