NJ gas price plunge ends as Trump targets Putin’s oil empire Dan Alexander Published: October 23, 2025 Tanker truck makes a delivery to Wawa on Route 1 in Lawrence 10/23/25 (Dan Alexander, Townsquare Media)

⛽ New Jersey gas prices dropped 18 cents in the past week

⛽ Trump’s proposed tariff on Russian oil sent prices surging more than 5% overnight

⛽ Analyst said “cooler heads” may soon stabilize the market

A substantial drop in the average price of gas in New Jersey may be short-lived thanks to the initial market reaction to tariffs against Russia's oil industry threatened by President Donald Trump.

Earlier in the week, gas prices had dropped 18 cents a gallon in New Jersey to go below an average $3 per gallon. Oil prices had dropped to their lowest level since 2021, at $56 per

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