Gas Prices Drop In NJ: Where Is Cheapest In The Caldwells?

CALDWELLS, NJ — Gas prices continue to drop in towns across the United States, including the Caldwells, a recent report says.

On Monday, GasBuddy announced that the nation’s average price of gasoline has declined for the eighth-straight week, falling by 4.6 cents over the past seven days. The national average price of gasoline is now at $3.33 per gallon of regular fuel.

New Jersey’s average price per gallon sits at $3.25, just below the national average. That’s down 64.5 cents from the same time last year, when gas was at $3.89 in the Garden State.

In Caldwell, the cheapest gas could be found at the Importech station at 250 Bloomfield Avenue, where the price was $3.04 as of Monday, according to the data.

In North Caldwell, the cheapest gas could be found at the Exxon station at 1 Bloomfield Avenue, where the price was $3.55 as of Monday, according to the data.

No stations or prices were listed for West Caldwell.

There has also been good news for the trucking industry, according to GasBuddy. The national average price of diesel has fallen 4.2 cents in the last week and stands at $4.34 per gallon— $1.01 lower than one year ago.

“As motorists turn their attention to Thanksgiving, they certainly can be thankful for the decline in gasoline prices,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

“Gasoline demand has struggled in recent weeks, falling not only due to the seasonal nature, as Americans drive less as the weather gets colder, but it appears there may be some economic headwinds entering the equation as well,” De Haan added.

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OVERALL HOUSEHOLD SPENDING

Households in the New York-Newark-Jersey City metropolitan area (which includes Belleville and Nutley) spent an average of $83,064 per year in 2021 and 2022, the U.S. Bureau of Labor Statistics recently reported.

Transportation costs such as gas accounted for 12.4 percent of household spending in the region, significantly lower than the 16.6 percent national average.

The largest cost of living? Housing, which took up about 37.6 percent of the area’s average household budget, according to the bureau.

In September, housing costs in the New York-Newark-Jersey City region jumped by 5 percent from the same time last year.

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