Pain at the pump: Gas has risen about 11 cents in just one week. How much are you paying?
The price of gas in has risen about 11 cents in just one week, and residents across New Jersey are feeling the pain.
News 12 Staff
•
Oct 20, 2021, 10:58 AM
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Updated 908 days ago
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1h agoThe price of gas in has risen about 11 cents in just
one week, and residents across New Jersey are feeling the pain.
The average
price for a gallon now stands at $3.40. Experts are attributing the rise to high demand, but low
supply.
According to AAA Mid-Atlantic, New jersey has gone
up 11 cents in the past week.
There are
different reasons for the price bump. Experts say that gas prices are rising
because production was slowed during the pandemic, and it is still trying to
catch up to the increased demand.
This time of the year is when gas prices usually
fall as fuel grades change, normally not rising until Thanksgiving and the
start of the holiday season.
Economists say the problem
is twofold -- crude
oil has jumped to more than $80 a barrel recently, and demand is also up worldwide. There
are also the on-going supply chain issues.
News 12 New Jersey will continue to track gas prices around the Garden State.
