Gas prices spiking before election day in NJ

Tight supply and rising oil prices are driving New Jersey gas prices sharply higher, and this may be the trend for the foreseeable future.

The statewide average for a gallon of regular gasoline has hit $3.93, according to AAA.

New Jersey is trending much higher than the national average of $3.78.

Analysts Patrick De Haan of GasBuddy.com says 27 states have seen a weekly increase. He reports the median price in the U.S. is at $3.64.

Garden State drivers are paying about 8-cents more than a week ago, and 40-cents more than we were paying at the beginning of October.

Somerset County, which typically has the highest prices in the state, is now averaging over $4 per gallon.

AAA.com

Analysts for AAA blame tighter supply and fluctuating oil prices for putting upward pressure on gasoline prices, and warn, "Pump prices could continue to increase if supply remains tight alongside rising oil prices."

Since last Thursday, New Jersey has seen some of the sharpest increases in the cost of gas in the nation at over 20-cents per gallon, according to AAA.

Eric Scott is the senior political director and anchor for New Jersey 101.5. You can reach him at eric.scott@townsquaremedia.com

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