New Jersey gas prices rise sharply as oil prices rebound
TRENTON, N.J. (AP) — Motorists are seeing sharply higher prices at the pumps in New Jersey.
AAA Mid-Atlantic says the average price of a gallon of regular gas in the state on Friday was $2, up 10 cents from last week. But that’s still much lower than the price from a year ago, when motorists were paying $3.23.
The national average price on Friday was $2.17, up 12 cents from last week. But that’s still much lower than the national average from a year ago, when motorists were paying $3.27.
Analysts say the higher gas prices are spurred by rebounding crude oil prices and refinery maintenance in the Midwest, which results in decreased production.