Gas prices drop in New Jersey

Gas prices continue to plummet across the Garden State, with  prices at some stations dipping well below $2 per gallon.

But there are holdouts: Some stations still display much higher per-gallon prices. We tried to find out why.

The Exxon station in tony Rumson is selling gas at $2.69 a gallon -- more than 50 cents above the $2.17 average for Monmouth and Ocean Counties according to gasbuddy.com.   We asked the attendant why -- and were told to ask Exxon.

At the corner of Newman Springs Road and Shrewsbury Avenue in Red Bank there are three stations.  The Exxon and Shell are both selling at $2.49 a gallon, while the Lukoil across the street advertises a whopping $2.89 per gallon. When we dropped by they weren't selling much.  Sonny, the manager, said Lukoil sells to his station at a high price, and he's not even making 20 cents a gallon in sales.

What gives?  Gasbuddy.com's Patrick DeHaan said there are many factors that contribute to varied pricing.  There could be some gouging in some areas, he said, and some stations could be selling gas that was bought a month ago at a higher price, putting a manager in a position to try to make his money back.

Either way, gas is cheap in New Jersey. Gasbuddy.com can give you accurate local pricing.