Gas Up 7 Cents In NJ As Feds Probe Nationwide Price Spike

RIDGEFIELD, NJ (CBSNewYork) — Gas prices are on the rise again in New Jersey at stations along the Garden State Parkway and New Jersey Turnpike.

This morning, gas prices were raised to $3.60 a gallon, up 7 cents from last week.

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Economists say despite the surge in gas prices nationwide, they don’t expect it to derail the fragile economic recovery. Yet, if prices hit a record of $4.11, they say all bets are off.

Prices that seemed painfully high six weeks ago almost feel like bargain basement deals today. Gas prices have spiked 45 cents since the first of the year.

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As always, it’s cheapest in New Jersey and most expensive in New York and Connecticut, where drivers are paying an average of just under $4.

In many places, it’s already been much more than that for weeks and some are using the soaring prices as an excuse to turn a profit.

Earlier this week, police in Suffolk County cracked down on tanker trucks suspected of bringing in gas from the Garden State and selling it on the cheap.

“They’ll sell the gas for 15 cents less and they won’t be paying the taxes and quite frankly, we can’t beat that,” said Andy Harris with the Long Island Gas Retailers Association.

The soaring pump prices are adding fuel to an increasingly fiery presidential campaign. All of the candidates, including President Obama, have been promising a solution — eventually.

“You know that we can’t just drill our way to lower gas prices. There’s no quick fixes, no silver bullets,” Obama said. “When it comes to oil production, under my administration, America is producing more oil today than any time in the last eight years.

“If you want to become energy secure and energy independent and you want to have lower gas prices down the road, you have to develop our own resources here as aggressively as you can and he’s done just the opposite,” said Republican presidential candidate Mitt Romney.

The Federal Trade Commission has also been investigating to see if the nation’s gas prices have been kept artificially high.

Sen. Charles Schumer along with Missouri Sen. Claire McCaskill have been pushing the FTC to finish its investigation so that prices could be reduced if there is evidence they’re being inflated only for profit.

What do you think? Sound off below in our comments section…


One Comment

  1. Screwed Consumer says:

    Supply and demand.

    It’s not very complicated.

    Obama restricts supply and the price goes up.

  2. bob says:

    whats the fed to probe? obama is the problem

  3. im ready to give up says:

    i dont know who i hate more….obama or christie. they both $uck

  4. B says:

    um… raising taxes on the oil companies won’t lower prices. They’ll jack the prices up to make up for the difference. They’ll still end up making the same profit; we’ll just be paying more for gas.

  5. Dogstar16 says:

    Gas prices are the highest now since 2008. What do 2008 and 2012 have in common? – they are both election years. I smell a big, red rat.

  6. michele says:

    hey ,why pick only on SUV?
    porsche , mercedes , bmw are all BIG gas hogs
    at least you can put lots of stuff into trucks

  7. michele says:

    hey , this is just what our president wants !
    why are you all complaining ?

  8. Lonnie says:

    The oil companies are slick, the minute they get wind of unrest. shut refineries down for so called ‘maintenance’ or upgrades, and slow production of crude to a near trickle. Not only does it drive the price of gas up, but keeps the economy in check, by temporarily laying workers off. The oil companies should be hit with a flat tax of 33-39% regardless. You would see how quickly prices would fall and how quickly the greed would end. Exxon and BP had record years last year, and the bonuses the execs paid themselves was insane. And we do nothing about it except keep paying……….

  9. Veeja says:

    This country is so used to cheap gas whereas the rest of world, especially in Europe, is paying $6 to $9. We drive gas hogs and demand cheap gas like it’s mandated to us! When you buy big SUVs and big pickups, you are making the rest of us paying for the high prices too. So shut your mouths and move on!

    1. Can't Afford It says:

      You know what, I’m sick of people making us look like we should be sorry for the rest of the worlds problems. Yes we drive big cars in this country because we like the comfort of driving big cars. That is our right and the freedon that we have in this country that is protected by our brave military and our constitution. Why should we care what they pay in Europe. Why is it America who is always the bad guys? We always have to help everyone in the world but ourselves and then when we do help other countries, do we ever get thanked for it? NO. All they do is say Americans are devils, Americans are selfish and bully’s. I work hard for my money and I want to get the best price I can. This president is going to drive this country into the ground with his radical/marxist agenda. If you want to go and pay more for your gas, then go to Europe and pay it and let us have our cheap fuel that we drill for in our own country.

    2. Name says:

      Some United States industries need big trucks
      Example carpenters plumbers ect
      So shut YOUR mouth and well just move on.
      With your logic we should follow EU over the cliff
      And one other thing a VW driver just might use MORE gas per year than a F150 pickup driver who uses said truck less than the VW driver.

Comments are closed.

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