The price of gasoline is continuing to fall as we approach Thanksgiving, but demand could maker prices start to rise again.

New Jersey's statewide average for a gallon of regular gasoline was $3.80 as of Monday morning, according to AAA. That is a decline of 11-cents per gallon in the last week, but still 11-cents higher than a month ago.

Last year at the time, New Jersey drivers were paying $3.45 per gallon for regular.

Prices have been steadily falling for the last two-weeks, but some analysts warn we could be in for a reversal due to high demand.

"U.S. gasoline demand rose 5.7% from the prior week as Americans prepare for Thanksgiving travel," says Patrick De Haan with, "Demand was 3.0% above the four week average and was the highest since the week of Oct. 16."

Higher demand could cause supply issues, and force a rise in prices.

Still, much of the country has been seeing significant drops in prices in the last week or so, with the biggest drops in the Great Lakes Region.

Michigan and Wisconsin saw prices drop as much as 21-cents in a day.

Along with gasoline, diesel prices have also been dropping in New Jersey, down a dime per gallon and now at $5.87. Diesel costs do remain significantly higher than a year ago, adding to shipping costs that are passed on to consumer in the form of higher prices.

Eric Scott is the senior political director and anchor for New Jersey 101.5. You can reach him at

Click here to contact an editor about feedback or a correction for this story.

The 99 top paying jobs in New Jersey

How much do you make? These are the occupations in New Jersey with the highest median annual compensation. Source: Federal Bureau of Labor Statistics, 2022

LOOK: Here's where people in every state are moving to most

Stacker analyzed the Census Bureau's 2019 American Community Survey data to determine the three most popular destinations for people moving out of each state.

How much does the average NJ home cost? Median prices by county

Everything is costing more these days — and housing is certainly no exception in New Jersey.

Data for 2022 from January through August, compiled by New Jersey Realtors, shows that South Jersey has been seeing homes hit the market and sell in less than a month, on average.

Median prices for single-family homes have reached $500,000 and above in nine counties in North and Central Jersey.

All but two counties have seen houses go for more than the list price, on average, this year.

More From 94.3 The Point