New Jersey gas prices still rising

Latest on Gas and Fuel Costs

September 1, 2012 8:03:25 AM PDT
Motorists are still seeing higher prices at the pumps in New Jersey.

AAA Mid-Atlantic says the average price of regular gasoline in New Jersey on Friday was $3.69, up 4 cents from last week.

That's also higher than the price from a year ago, when motorists were paying $3.54.

Meanwhile, the national average price rose by 10 cents to $3.83.

That's also higher than the national average from a year ago, which was $3.62.

Analysts say the higher prices are mostly due to Hurricane Isaac's impact on refinery capabilities in the Gulf of Mexico, where hundreds of oil platforms and rigs were shut down due to the storm.

But they expect prices will start falling in the coming weeks, as demand decreases and stations switch to less expensive winter blends.

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