News Article

Gasoline Prices Rise For 6th Week

By Phil Gregory, WBGO News
February 19, 2013

Listen to Report

Article image

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.

Ben Brockwell with the Oil Price Information Service in Wall Township does not expect the price to fall anytime soon.

 “You may see it calm down a little bit over the next week or two 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.”

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.

“We always see in the fourth quarter a big drop in gasoline prices. We have to see. Anybody can predict anything at the end of the day. I only look at what I see right now. What I see is pain at the pump. That’s what I’m going by.”

NPR

Get the Rundown from WBGO News

A weekly email from WBGO News with a preview of what's coming up and a taste of what you might have missed.

Verification