Gas prices at some stations in Monmouth and Ocean counties have dropped below the $2 per gallon mark, the Asbury Park Press reports.

Observers report a $1.99 per gallon price at a Sunoco station on Route 33 in Neptune for motorists paying with cash. A 7-Eleven station on Route 9 in Tom River was priced at $1.99 as well.

Most stations haven’t dropped that far yet, but prices are heading that way.

According to the AAA’s Fuel Gauge Report, the average price for a gallon of unleaded regular in Monmouth and Ocean counties is $2.21 today, down about three cents overnight. The state average is $2.28.

The struggling economy and a drop in worldwide demand for oil has caused prices to drop, hammering down gasoline prices. This follows all-time highs in July when the cost of a gallon hit $3.99 at the Jersey Shore and topped $4 in some places.

Now the average price has dropped 99 cents in a month, according to AAA’s figures, which are compiled by Wall-based Oil Price Information Service and Wright Express.

(Source: Asbury Park Press)