Now that spring has arrived, we could start seeing an increase in gasoline prices.
The average price of a gallon of regular in New Jersey has edged down to $2.19 in the past week.
But Denton Cinquegrana, an analyst at the Oil Price Information Service in Wall Township, says that might not last long.
“I do expect prices to go up as we transition to the spring and summer grade of gasoline, but we still have a couple more weeks of winter gasoline to kind of purge from the system so to speak,” said Cinquegrana. “So we’re going to be in for these lower prices for a little bit longer, maybe probably up until about tax day.”
Cinquegrana predicts gas prices will peak around $2.50 a gallon by May and then pull back again. After another move higher during the summer, he believes prices could go back below $2 later this year.