Energy News Today

Drivers paying more for gas as crude oil prices increase

Dec. 5, 2020Updated: Dec. 5, 2020 11:02 a.m.

TRENTON, N.J. (AP) — The increasing price of crude oil has caused gas prices to rise in New Jersey and across the nation in recent days, but analysts say low demand will likely limit further increases at the pumps.

AAA Mid-Atlantic said the average price of a gallon of regular gas in New Jersey on Friday was $2.24, up four cents from last week. Drivers were paying an average of $2.57 a gallon a year ago at this time.

The national average price for a gallon of regular gasoline was $2.16, also up four cents from the previous week. Drivers were paying an average of $2.59 a gallon a year ago at this time.


Analysts say crude oil prices increased this week amid growing market optimism that vaccines for the coronavirus will be available in the coming weeks.

Read More: Drivers paying more for gas as crude oil prices increase

2020-12-05 13:04:04

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