NJ Gas Prices Up More Than $2/Gallon in Two Years

Gas prices are continuing to rise in New Jersey and across the US.

What a difference a year, or two, can make.

A year ago, the average price for regular was $2.94.

Two years ago, gasoline hit pandemic lows below $2 per gallon.

Today, the average price for regular in the Garden State is $4.22, according to AAA. That is 12 cents higher than a week ago.

Get our free mobile app

Only five states have seen prices increase faster than New Jersey over the last week.

Industry analysts say it is rising crude oil prices, not demand, that is driving the increases. Oil is still selling for over $100 per barrel, despite President Joe Biden releasing record amounts from the nation's strategic reserves.

The trend is likely to continue into the summer driving season.

Trucking and transpiration sectors are being hit particularly hard by these latest increases. Diesel fuel is again selling for nearly $6 per gallon, nearly double what it cost just a year ago.