EDISON - New Jersey motorists may have noticed that the price of gas has gone up in recent weeks, but the price is still cheaper than this time last year.
AAA Mid-Atlantic says that a gallon of regular gasoline costs about $1.98 in most areas in New Jersey. The price was about $2.34 in 2015.
Oil analysts say that it’s possible that the price will increase more if the demand outpaces the supply.
"Oil prices are significantly higher than they were back in the middle of winter when we were in the mid-20s,” says analyst Denton Cinquegranna. “We’re now over $4 a barrel, which…is still relatively cheap. But that’s where it all starts. When you have high oil prices, naturally gasoline prices are going to move higher with it.”
Analysts do say that gas prices are not expected to reach last summer's peak price of $2.62 per gallon.