New Jersey gas prices stable, for now

Nozzles pump gas into vehicles at a BP gas station (Julio Cortez/AP)

Nozzles pump gas into vehicles at a BP gas station (Julio Cortez/AP)

Motorists are seeing stable prices at the pumps in New Jersey.

AAA Mid-Atlantic says the average price of a gallon of regular gas in the state on Friday was $2.02, the same price as last week. That’s also roughly the same price from a year ago, when motorists were paying $1.99.

Analysts say the stable prices come amid a seasonal drop in demand for gas.

The national average gas price on Friday was $2.25, down a penny from last week. That’s also lower than the national average from a year ago, when motorists were paying $2.30.

New Jersey Gov. Chris Christie signed legislation hiking the state’s gas tax by 23 cents on Friday to help pay for transportation projects, taking the tax from the 49th highest in the nation to the sixth.

The gas tax goes from 14.5 cents per gallon to 37.5 cents per gallon. The hike goes into effect Nov. 1.

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