NJ Gasoline Prices Continue To Rise Sharply

TRENTON, N.J. (AP) — Motorists continue to see sharply higher prices at the pumps in New Jersey.

AAA Mid-Atlantic says the average price of regular gasoline on Friday was $3.39, up nine cents from last week.

That’s also much higher than a year ago, when New Jersey motorists were paying $2.62.

Meanwhile, the national average price rose to $3.54, up seven cents from last week. That’s also much higher than the national average from a year ago, which was $2.78.

The sharp boosts are again due to surging crude oil prices, which were being driven by the tumultuous situation in Libya and fears that the unrest may spread to other oil producing areas in the Middle East. But oil prices gradually declined as the week progressed, especially after Friday’s major earthquake in Japan.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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