You know it’s getting bad out there when some Democrats are actually calling for a federal gas tax holiday.
The average price of a regular gallon of gas in the U.S. hit $3.477 on Thursday according to AAA; it’s $3.552 in New Jersey which is up over 17-cents from a month ago and nearly $1 higher than the $2.636 it cost this time last year.
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Garden State gas is presently the 12th most expensive in the nation.
New Jersey’s 42.4 cent-per-gallon gas tax doesn’t help. It was only 14.5 cents in 2016 before a faustian pact between then-Governor Chris Christie and Democrat legislators resulted in a massive gas tax hike.
Nationally, inflation spiked 7.5% last month representing the most precipitous rise in prices in 40 years.
