TRENTON, N.J. (AP) – Drivers in New Jersey and around the nation are seeing higher gas prices following a week of uncertainty due to tension in the Middle East, but analysts say the jump could be halted by lower crude prices, reduced demand and increased supplies. AAA Mid-Atlantic says the average price of a gallon of regular gas in the state on Friday was $2.64, up three cents from last week.
Drivers were paying $2.33 a gallon a year ago at this time.
The national average gas price Friday was $2.59, up a penny from last week. A year ago, motorists were paying $2.23 a gallon.
Analysts say low demand amid rising gasoline stocks would normally send prices downward, but current friction between the United States and Iran has led to some fluctuation. But they say crude oil prices have decreased since the middle of the week, and that may help keep gas prices in check.
Copyright 2020 The Associated Press.