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As military attacks in Iran continue, gas prices in New Jersey are up 10 cents overnight and 16 cents in the past week, AAA Mid-Atlantic reports.
As of this morning, New Jersey’s average gas price is $3.08. In South Jersey, prices are slightly lower at $3.06, with an 18-cent increase in the past week.
Oil prices began to surge Monday as tensions in the Middle East escalated with military strikes in Iran. The escalating violence is affecting a key shipping route through the Persian Gulf.
Prior to the military activity, gas prices were already starting to creep up as refineries make the switch from winter to summer blends of fuel. Typically, summer blends are more expensive due to the additives used to keep the gasoline from evaporating in high heat. Costs also rise as the demand for fuel increases in warmer months.
According to AAA, New Jersey gas prices are currently below the national average of $3.19. One year ago, gas prices were $3.08 per gallon. The highest recorded average price in New Jersey was on June 13, 2022, when prices surged to just over $5 per gallon.
