Business & Finance

Average Gas Price in NJ Approaches $3 a Gallon according to AAA May 14 Survey

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Average Gas Price in NJ Approaches $3 a Gallon according to AAA Northeast May 14 Survey Credits: John Lee / TAPinto.net
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FLORHAM PARK, NJ - The May 14 AAA Northeast survey of gasoline prices in New Jersey show that the average price of a gallon of regular gas is approaching $3 a gallon ahead of the peak summer driving season.

Today's average price at the pump in across the state is $2.94 today - that's  five cents higher than last week ($2.89). Today price is also  23 cents higher than one month ago ($2.71) and 58 cents higher than it was on May 14, 2017 ($2.36)

AAA’s May 14 survey of fuel prices found the current national average to be $2.87, six cents higher than last week. The national average price today is 16 cents higher than a month ago ($2.71) and 53 cents higher than a year ago($2.34).

“The geopolitical tensions prompted by the White House decision to re-impose sanctions on Iran, combined with higher crude oil prices, growing global demand, shrinking supply, and the seasonal switchover to summer blend gasoline are all combining to drive up prices at the pump,” said Robert Sinclair, Manager of Media Relations for AAA Northeast.

 

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