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 1,009 days ago

Share:

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.  


More from News 12
2:39
STORM WATCH: Severe thunderstorms possible across New Jersey into the overnight hours

STORM WATCH: Severe thunderstorms possible across New Jersey into the overnight hours

1:30
NJ Transit warns riders intense heat may cause delays, cancellations

NJ Transit warns riders intense heat may cause delays, cancellations

0:30
WATCH: Daylight fireball that caused loud boom streaks across sky in New Jersey

WATCH: Daylight fireball that caused loud boom streaks across sky in New Jersey

0:27
Police: West Milford man accused of smashing windshield of Wayne police cruiser

Police: West Milford man accused of smashing windshield of Wayne police cruiser

0:20
President Joe Biden tests positive for COVID-19 while campaigning in Las Vegas

President Joe Biden tests positive for COVID-19 while campaigning in Las Vegas

0:24
Jersey Proud: Belleville police officers host pop-up lemonade stand

Jersey Proud: Belleville police officers host pop-up lemonade stand

0:51
Hackensack Fire Department to get $250K in federal grants for flood response

Hackensack Fire Department to get $250K in federal grants for flood response

0:58
Meryl Streep, Phil Simms and Jersey Mike’s founder among those to be inducted into NJ Hall of Fame

Meryl Streep, Phil Simms and Jersey Mike’s founder among those to be inducted into NJ Hall of Fame

1:53
Newest community refrigerator now installed at Hyatt Court in Newark

Newest community refrigerator now installed at Hyatt Court in Newark

1:39
Hundreds participate in 37th annual Belmar beach sandcastle contest

Hundreds participate in 37th annual Belmar beach sandcastle contest

0:25
Wildfire at major military gunnery range in Burlington and Ocean counties burns over 1,100 acres

Wildfire at major military gunnery range in Burlington and Ocean counties burns over 1,100 acres

1:34
Bricks fall two-stories from municipal building onto Paterson sidewalk; no injuries

Bricks fall two-stories from municipal building onto Paterson sidewalk; no injuries

0:33
Police: Probe of dog’s death leads to discovery of drug stash at South Jersey business

Police: Probe of dog’s death leads to discovery of drug stash at South Jersey business

0:27
Former Wall Township teacher accused of having a sexual relationship with student

Former Wall Township teacher accused of having a sexual relationship with student

0:37
Officials: Bergenfield woman admits to defrauding customers of over $360K in social media investment scheme

Officials: Bergenfield woman admits to defrauding customers of over $360K in social media investment scheme

1:26
HEAT ALERT: Cars heat fast in direct sunlight!

HEAT ALERT: Cars heat fast in direct sunlight!

1:28
What's Cooking: Uncle Giuseppe's Marketplace's Italian potato salad

What's Cooking: Uncle Giuseppe's Marketplace's Italian potato salad

2:09
Prosecutor: Infant dies after being left in hot car in Lakewood; father faces charges

Prosecutor: Infant dies after being left in hot car in Lakewood; father faces charges

1:11
Officials: 3 firefighters injured, dozens displaced by fire in Newark

Officials: 3 firefighters injured, dozens displaced by fire in Newark