Gas Prices

In New Jersey, the average for regular is $4.77 per gallon. That is the same as what we were paying last Friday but is off fractionally from the record high set on May 20th, according to AAA.

Yet another piece of legislation has been proposed to provide some relief for record-high gas prices, but none of the proposals has advanced.

A couple of months ago, a bill was proposed to allow New Jersey residents to pump their own gas. It was met with a lot of criticism and ultimately didn't pass.

Gas prices have rebounded in New Jersey and around the nation amid concerns about higher global oil prices and renewed seasonal demand.

Prices continue to drop about a penny a gallon each day. The statewide average is $4.04, but many counties are reporting an average at or below the $4 mark.

Even as gas prices keep creeping down, Gov. Phil Murphy is promising more relief. What type of relief, and when you might see it, remains a question.

The price for a gallon of regular gasoline now stands at $4.16, down two cents from Friday and five cents from a week ago Monday. The high of nearly $4.38 was recorded by AAA on March 10.

The next trend may be food trucks concentrated at apartment buildings or offices but the problem there is that many offices remain relatively empty since clearing out in March 2020.

Some industry analysts are warning temporarily cutting the gas tax will ultimately have the opposite effect on prices as demand for gasoline increases.

Don't expect Gov. Phil Murphy to offer much relief for record-high gas prices. Although he acknowledged "affordability is being challenged," he offered no New Jersey-based solutions.