Gas Price Increases Costing NJ Families

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STATE – The average price of a gallon of regular, full-service gasoline reached $3.09 a gallon overnight, according to AAA Mid-Atlantic. That’s up five cents in the past week and 54 cents since this time last year.

The state’s average gas price climbed to the $3 mark on Jan. 4. At today’s price of $3.09, New Jersey families will spend an extra $120 per year, according to AAA Mid-Atlantic. If the average price rises to $3.25, that would cost families an extra $333 per year.

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“Motorists are undoubtedly feeling the pain at the pump,” said Tracy Noble, spokesperson for AAA Mid-Atlantic. “The uncertainty of the situation in the Middle East and its long-term affect on gas prices has many recalling the summer of 2008 when prices reached all-time highs above $4.00 a gallon. It’s too soon to project where gas prices are headed long-term, but many analysts believe we’ll see $3.50 to $3.75 a gallon by early spring, and each additional 25-cent increase adds another $333 to annual gasoline expenditures.”

To find prices at individual gas stations, go to AAA Fuel Finder: http://www.aaamidatlantic.com/Outreach/GasInfo


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