Paying more at the pump: Prices rise at time they typically fall

The price of oil topped $80 a barrel Monday for the first time in seven years, and that ripple effect is now seen at gas pumps across New Jersey.

News 12 Staff

Oct 12, 2021, 12:12 PM

Updated 922 days ago

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The price of oil topped $80 a barrel Monday for the first time in seven years, and that ripple effect is now seen at gas pumps across New Jersey.
According to AAA, now is the time when prices typically fall. In fact, since the drop of the gas tax, pump prices on average have now risen by about a nickel because of supply shortages and higher demand.
The average price in New Jersey for a gallon of regular is $3.28, compared to a year ago when it was just $2.25.
Some drivers say for now they're not changing their traveling plans, but it is noticeable.
“It's going to keep happening, so I'm not going to stop living my life because of it, but it's always a bummer or if it's not that much it's always a nice thing," says Micaela Crines, of Wall. 
Crines paid more than $40 to fill up her tank -- a year ago it would have been $29.
AAA says to look for demand to continue to be strong as more people hit the roads, as forecasters call for oil to potentially hit $90 a barrel by the end of the year.  


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