As New Jersey motoritsts hit the road this pre-Christmas weekend, they might ponder the changing face of gas prices, especially if their travels take them beyond the Garden State.
New Jersey continues to enjoy the some of the nation’s lowest prices at the pump but prices here have risen 70 cents over the past year, according to the Automobile Club of America, which released the following 12-month New Jersey gas price facts for 2007:
Average price statewide on 12/19/06 was $2.21
Average price statewide on 12/19/07 is $2.90
Amount of New Jersey gas tax proceeds transferred to NJ Transportation Trust Fund in 2007: $483 million.
Amount of New Jersey gas tax proceeds transferred to NJ Transportation Trust Fund in 2006: $405 million.
Highest average statewide price was $2.96, on 05/25/07
Lowest average statewide price was $2.02, on 02/05/07
Largest one-month price increase: From 10/16/07 at $2.53 per gallon to 11/16/07 at $2.92 per gallon, difference of $.39.
Largest one month price decrease: From 07/27/07 at $2.77 per gallon to 08/27/07 at $2.54 per gallon, difference of $.23.
During 2007, the statewide average price per gallon never reached the $3 mark.
During the Memorial Day holiday, New Jersey was the only state with an average below $3.
National average gas prices reached a record high of $3.23 per gallon on 05/24/07
For nine months in 2007, New Jersey had the cheapest gallon compared to surrounding states.
