Gas prices have been on the rise for awhile due to increasing demand and Biden-era federal limits on domestic supply, Save Jerseyans, but bloody conflict in Eastern Europe is (literally) acting like gasoline on the fire.
On Sunday, gas prices in New Jersey eclipised $4.00 per gallon of regular gasoline according to AAA. Only Atlantic County remained below the $4 average albeit by 0.5-cents.
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Somerset County was the highest at a whopping $4.177 per gallon.
The national average is now $4.009, and in the Garden State it’s $4.095 across all 21 counties. That’s a new record for our state.
Gasoline in the Garden State was *only* $3.652 only a week ago and $2.872 one year ago.
How bad is all of this for the economy? Elon Musk – Mr. Electric Car himself – tweeted his support for increasing domestic oil and gas production:
Obviously, this would negatively affect Tesla, but sustainable energy solutions simply cannot react instantaneously to make up for Russian oil & gas exports.
— Elon Musk (@elonmusk) March 5, 2022
New Jersey gas prices are now consistently higher than the national average. That wasn’t the case until the Christie-era gas tax increase legislation which instituted automatic increases to keep the transportation trust fund flush with cash.
