NEW YORK (WABC) -- Motorists are feeling the pain in their pockets as the price at the pump soars to levels we haven't seen since mid-2008.
The driving force behind the increasing prices at the pump is the fact that demand for gas is outstripping the supply.
Other factors leading to the big jump in fuel prices are crystal clear.
Along with that, China is using more oil as its breaks away from coal and Hurricane Ida impacted production in the gulf of Mexico.
Business owners in the Tri-Stare are feeling the financial impact.
According to AAA, the current price in New Jersey for regular gas is $3.40 per gallon.
Just a week ago it was $3.29, a month ago the price was $3.22, and a year ago it was $2.24 cent gallon.
The short term solution is to change driving habits and use cars that are more economical, but in the long range, this will encourage more motorists to switch to electric or hybrid vehicles.
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