NJ summer gas prices should continue to fall

😃 Good news for NJ motorists as gas prices fall

🚗 EPA issues emergency waiver for cheaper gasoline blend

👇 Prices should continue to fall despite high summer demand for fuel

Gas prices are continuing to fall in New Jersey, and analysts say the trend should continue.

The statewide average for regular gasoline is now $3.48 per gallon, according to AAA. That is four-cents lower than a week ago.

Analysts expect pump prices to continue to drop, even as demand for gas hit new highs last week.

Gasoline retailers are required to sell a more expensive summer blend of gasoline beginning in May. The summer blend typically adds 15-20 cents more per gallon.

However, the Environmental Protection Agency has issued an emergency waiver that will allow a cheaper blend to be sold.

The EPA will allow a gasoline blend that includes 15% ethanol. The so-called E15 blend is typically not allowed in the summer months because it can increase smog contamination.

In a statement, the EPA cited uncertainty over gasoline supplies due to Russia's ongoing war with Ukraine.

https://abcnews.go.com/Business/wireStory/epa-allows-gasoline-higher-ethanol-blend-summer-98941507

Analyst Patrick De Haan of GasBuddy.com says the move will "blunt the impact to motorists of gasoline-related challenges at a price point 5-15 cents per gallon than traditional regular E10 gasoline."

Typically, a 10% ethanol blend (E10) is mandated to cut down on air pollution in the summer months.

President Joe Biden's administration has been extremely sensitive to the rise in gasoline prices and has been trying varying strategies to lower them.

Last year at this time, New Jersey drivers were paying $4.20 a gallon for regular and prices were headed toward a record $5.05 per gallon in June.

Eric Scott is the senior political director and anchor for New Jersey 101.5. You can reach him at eric.scott@townsquaremedia.com

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