Gas prices rise in New Jersey, around nation after OPEC announcement
TRENTON, N.J. — Gas prices rose in New Jersey and across the nation as a whole following the announcement by major oil-producing countries of plans to cut production.
AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $3.53, up nine cents from last week. Drivers were paying $3.24 a gallon on average a year ago at this time.
The national average price for a gallon of regular gasoline was $3.89, an increase of 10 cents from last week. Drivers were paying $3.24 a gallon on average a year ago at this time.
Analysts also cited increased demand and U.S. refinery closures due to maintenance as factors driving up crude prices in addition to OPEC's announced intention to cut production by two million barrels a day.