NJ Gasoline Prices Rise Sharply

TRENTON, N.J. (AP) — Motorists were seeing sharply higher prices at the pumps in New Jersey.

AAA Mid-Atlantic said the average price of regular gasoline in the Garden State on Friday was $2.62, up 12 cents from a week ago.
That’s also higher than a year ago, when New Jersey motorists were paying $2.29.

Meanwhile, the national average price rose 9 cents to $2.78. That’s also higher than the national average from a year ago, which was $2.47.

AAA Mid-Atlantic said the rising prices were due to recent surges in the price of crude oil, which has been around $80 a barrel or more for over a week.

Crude’s been rising as the dollar has weakened, and higher oil prices mean refiners pay more for crude to make gasoline and other refined products.

(Copyright 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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