Local gas prices decrease; oil also down

Gas prices changed slightly from yesterday, declining 2 cents, to $1.69, for a gallon of regular no-lead in the five-county Philadelphia region, according to AAA Mid-Atlantic.

South Jersey's average slipped 1 cent, to $1.45. The national average remained at $1.62.

In the diesel lines, the Philly area saw no change; a gallon was still priced today at $2.67. South Jersey's average declined 2 cents, to $2.36, and the national average was down 1 cent, to $2.43.

The auto club said that 11 states have averages at or below $1.50.

Meanwhile, oil prices fell today as consumer confidence in the United States hit an all-time low in December and home prices dropped sharply, with few signs that the real estate market has hit bottom.

Crude prices had risen for the first time in a week Monday, with the armed conflict between Israel and Palestinian militants entering a third day.

Violence in the oil-rich Middle East, however, was drowned out by more bad economic news in the United States.

Light, sweet crude for February delivery fell 79 cents to $39.23 a barrel on the New York Mercantile Exchange. The contract rose $2.31 to settle at $40.02 Monday.