Gas prices in New Jersey are moving higher for a sixth straight week.
The average price of a gallon of regular in the Garden State is now $3.63. That’s six cents more than a week ago and 30 cents higher than last month.
Don’t look for the price to fall anytime soon, advises Ben Brockwell of the Oil Price Information Service in Wall Township.
“You may see it calm down a little bit over the next week or two,” he said Tuesday. “But if you look, April gasoline prices — both in the futures and the physical market — those prices are looking to be 10 or 15 cents higher.”
Why prices increase
Brockwell says tight supplies due to the upcoming switch to the summer blend of gasoline are contributing to higher costs at the pumps.
Many analysts predict the price will drop later in the year, but Brockwell says stable demand could keep prices high.
Meanwhile, the average cost for a gallon of gas is $3.77 in Pennsylvania, while drivers in Delaware are paying about $3.69 per gallon.