NJ Gas Prices Reach $4.17 Average As Global Supply Is Pinched: Report

NEW JERSEY — Garden State gas prices hit a record average of $4.17 as prices rose 52 cents per gallon in the last week, AAA reported on Monday morning.

Morris, Essex, Union, Somerset, and Mercer counties are seeing the highest prices for gasoline in the state, from $4.23 to $4.19 a gallon.

Sussex, Warren, Gloucester, Atlantic and Burlington counties had some of the lowest prices at the pump, but only a few cents down, at $4.13 to $4.08 a gallon, AAA reported. Camden County's prices were the lowest at $4.07 a gallon.

Prices per gallon fell in the middle for Salem, Cumberland, Cape May, Ocean, and Middlesex counties where motorists paid between $4.13 and $4.17 a gallon.

AAA reported on Monday morning the national average gas price was $4.06 per gallon.

Residents reporting to a site called New Jersey Gas Prices cited two Exxon stations charging the highest prices for regular gas, at over $6 a gallon. Members reported within the last 24 hours that an Exxon station in Bedminster at 505 and US 206 S near Hills Drive was charging $6.29 a gallon for regular gas.

Another New Jersey Gas Prices member reported a Palisades Park Exxon at 41 W. Harriet Ave. and US 46 E was charging $6.22 a gallon for regular gas on Sunday. These were prices for customers paying cash, the New Jersey Gas Prices site said. Exxon stations accounted for seven of the 15 highest gas prices reported on Saturday and Sunday, though two Exxon stations were also on the list of lowest prices reported.

One Racestar station and two Delta stations had the lowest prices reported on Sunday, per New Jersey Gas Prices. A Racestar station in Carteret was selling regular gas for $3.43 a gallon, according to New Jersey Gas Prices member reports. Two Delta stations, both in Elizabeth, were charging $3.55 and $3.59 on Sunday, the same site posted.

Gas prices in New Jersey are up $1.286 per gallon from one year ago. AAA reported that gas cost $2.88 a gallon one year ago, and only one month ago was $3.50 a gallon. A week ago, the site reported $3.65 as the average price per gallon in the state. New Jersey Gas Prices reported similar numbers.

The reason for skyrocketing gas prices is being attributed to supply crunches that began in the pandemic now being exacerbated by the financial fallout of Russia's invasion of Ukraine. Traders, shippers and financers separating themselves from Russian oil supplies have removed millions of barrels of oil from the global supply, according to a Wall Street Journal report.

New Jersey Gas Prices offers a link to lowest gas prices by city.

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