AAA Mid-Atlantic: NJ gas prices rise sharply

February 18, 2012 7:32:18 AM PST
Motorists continue to see higher prices at the pumps in New Jersey.

AAA Mid-Atlantic says the average price of regular gasoline in New Jersey on Friday was $3.50, up 5 cents from last week. That's also much higher than it was a year ago, when motorists were paying $3.04.

Meanwhile, the national average price rose 3 cents and is now $3.53. That's also much higher than the national average from a year ago, which was $3.15.

The price boost marks the eleventh straight week that gas prices have risen in New Jersey. Analysts say the rising prices are mostly due to tensions in the Middle East, higher global demand for gas, rising crude oil prices and market speculation.

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