file photo By Boyd Loving
Less cash in the tank, more in the bank: Lower gas prices boost N.J. drivers’ bottom line
NOVEMBER 28, 2014, 11:30 PM LAST UPDATED: FRIDAY, NOVEMBER 28, 2014, 11:40 PM
BY NICHOLAS PUGLIESE
STAFF WRITER |
THE RECORD
Lissette Mendez got so fed up with high gasoline prices over the summer that she started looking for a new job with a shorter commute. Now, not only is the job search less urgent, but she can also set a little money aside for her daughter’s education.
Joseph Christ was able to splurge on a nine-day motorcycle trip to the Grand Canyon in October, just months after he stopped using his beloved 1996 Ford Bronco, whose appetite for gas cost him $120 per fill-up, in favor of a fuel-efficient sedan.
Aaron Carr hadn’t filled the tank of the family car to the top in more than seven months, buying just $20 at a time, hardly enough to budge the fuel gauge. But now, for the last few weeks, he’s been putting unspent gas money “on ice,” saving it for a rainy day.
Just as the holidays arrive, so has a measure of relief for New Jersey drivers. At an average of $2.71 per gallon as of Friday, state gas prices are at their lowest point in nearly four years and about 50 cents less than they were just three months ago. If they remain there, drivers are expected to save roughly $400 annually, according to data from the U.S. Energy Information Administration.
“It’s like going back in time,” Frank Cappiello, 62, of Elmwood Park said as he and his wife treated their 2½-year-old granddaughter to a morning ride Thursday. “There’s money left over in the checkbook.”
https://www.northjersey.com/news/less-cash-in-the-tank-more-in-the-bank-lower-gas-prices-boost-n-j-drivers-bottom-line-1.1143456
