TRENTON — Gas prices have rebounded in New Jersey and around the nation amid concerns about higher global oil prices and renewed seasonal demand.
AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $4.09, up five cents from last week. Drivers were paying $2.89 a gallon on average a year ago at this time.
The national average price for a gallon of regular gasoline was $4.12, also up five cents from last week. Drivers were paying $2.88 a gallon on average a year ago at this time.
Analysts say crude oil prices crept up above $100 a barrel amid the war in Ukraine and the fear of less Russian oil entering the market. At the same time, demand is increasing with warmer weather and prices at the pump are dipping from record highs.
Gas prices in New Jersey showed signs of lowering earlier this month. The cost for a gallon of regular averaged $4.04 last week, the lowest in a month.
Governor Phil Murphy promised some form of tax relief earlier this month. Murphy was vague about the details while speaking on News 12.
"I'm not sure it's direct to gas," Murphy said, "but I'm virtually certain it's something."
NJ beach tags guide for summer 2022
We're coming up on another summer at the Jersey Shore! Before you get lost in the excitement of sunny days on the sand, we're running down how much seasonal/weekly/daily beach tags will cost you, and the pre-season deals you can still take advantage of!
The 2002-2003 New Jersey Nets: The last time the NBA Finals came through NJ
In 2012 the Nets made their Brooklyn debut, but before that, New Jersey was the home of the Nets dating back to 1977.
The franchise was born in 1967, under the name the New Jersey Americans. They played their games in Teaneck as part of the American Basketball Association. One year later they moved to Long Island, becoming the New York Nets.
It was there the team won two ABA championships in 1973-74 and 1975-76. The very next year the Nets, along with three other basketball franchises, were absorbed into the NBA as part of a merger deal, abolishing the ABA.
When the Nets first moved to New Jersey, they played their home games at the Rutgers Athletic Center in Piscataway. Then in 1981, they moved into the home many of us remember them in the most, the Brendan Byrne Arena in the Meadowlands in East Rutherford (later named the Continental Airlines Arena, then Izod center).
After years of losing, The Nets made it to two straight NBA Finals in 2001-02 and 2002-03. In 2002-03, the final time they sniffed the championship, the team lost to the San Antonio Spurs.
It would be the last time the Nets sniffed the title, but their efforts added them to New Jersey lore forever.