NJ Gas Prices Could Soon Do Something They Haven't Done In Years

Get ready to dig a little deeper in your pockets. Gas prices could reach a point they haven't reached, on average, in at least four years.

Does that mean $3-a-gallon by spring?

Yes, that's definitely possible, according to analysts.

Indeed, gas prices have already climbed nearly 30 cents in some New Jersey towns over the past year, according to Tracy E. Noble, manager of public and government Affairs for AAA Mid-Atlantic. And the number is expected to keep climbing and creeping closer to - if not surpassing - the $3 mark once demand is up by the spring.

Noble noted that such increases are rare for the winter, when traveling and driving happens much less than the spring and summer.

"We don't know what's going to happen because this is unseasonable what's happening," Noble told Patch. "We're already seeing $3 a gallon for premium. Could regular follow suit? It's possible."

The state average right now is $2.69 - four cents more than it was four days ago. The last time prices steadily hit $3 a gallon, on average, was 2014.

Consumers are accustomed to seeing gas prices dip in January, so they're "wondering if, and when, that break will arrive at local gas stations," Noble said.

But it won't, she said. The United States has bucked an international trend, noting that demand for the U.S. crude petroleum market remains high and exports are increasing.

“Since 2014, gas prices decreased as much as 20 cents in the first three weeks of the year,” said Noble. “This year, gas prices are nine cents more than they were on Jan. 1, a possible indication that prices in 2018 will likely be more expensive than last year.”

Tom Kloza, global head of energy analysis for the Wall-based Oil Price Information Service, told Patch that the recent price spike is a rarity for the slow winter driving season. He said prices could creep closer to $3 a gallon when demand picks up this spring, but he emphasized that the market is hard to predict.

"Anything is possible," Kloza said.

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