Gas Prices

As of Monday, prices are down a couple of cents statewide, but Tom Kloza, global head of energy analysis for the Oil Price Information Service, said not much more downward action is expected for now.

As gas prices continue to climb across South Jersey, some gas station signs are beginning to display the number "3" on higher grades of fuel

State gas taxes in New Jersey will rise to 50.7 cents per gallon. Gas consumption is down in the COVID-19 recession, triggering a hike under a state formula.

Now that New Jersey's stay-at-home order has been lifted and the state slowly reopens, that means more people are hitting the roads, driving up the demand for gasoline.

Trouble with Iran, higher crude prices, a refinery fire in nearby Philadelphia -- all problems that may cause gas prices to "wobble," near term, according to one expert.

"Today's state average is $2.80 per gallon," AAA Spokeswoman Tracy Noble said. "That is down 6 cents in just a week."

You may be relieved to hear that a gallon of regular gasoline is 2 cents cheaper today than it was one week ago, according to AAA Northeast.

The rise in gas prices — typical at this time of year in New Jersey — is continuing, as demand increases and we switch to a more expensive formula.

Prices at the pump have gone up 8 cents a gallon over the past week in the Garden State, from $2.51 to $2.59 on average, and they’re expected to keep climbing for at least the next couple of months.

Robert Sinclair of AAA/Northeast says one reason for the rise — up two cents-a-gallon in New Jersey on average this week — is the switch to reformulated blends.