New Jersey Residents Concerned After Gas Prices Rise For 4 Straight Weeks
NEW YORK (CBSNewYork) -- Four consecutive weeks of rising gas prices has left many drivers watching their wallets.
As WCBS 880's Jim Smith reported, gas prices have been steadily climbing for the past month with a 10-cent increase in just the past week.
"Man, it really hits my pocket," said one driver.
New Jersey Residents Concerned After Gas Prices Rise For 4 Straight Weeks
Drivers said after getting used to the cheap prices over the winter, the latest bump is putting pressure on their bottom line.
But oil industry analyst Tom Kloza said it's not time to panic, we're likely at or near the peak, Smith reported.
"One should not assume that because the last month's prices are up 20 cents, that we're going to see 20 cents each month. This is going to be a cheap year," he said.
Kloza said prices are still about a dollar less than a year ago. And come the fall, he said we could be back down to around $2 per gallon.
