Gas prices crept up for another week in New Jersey and around the nation as an increase in total domestic supply was offset by a reduction in demand, analysts said.
AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $2.92, up two cents from a week ago. Drivers were paying an average of $2.00 a gallon a year ago at this time.
The national average price for a gallon of regular gasoline was $2.89, up one cent from last week. Drivers were paying an average of $1.77 a gallon a year ago at this time.
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Analysts are pointing to the announcement by the Centers for Disease Control and Prevention that fully-vaccinated people can travel across the country with minimal risk, and they also cite “rumors that Europe could reopen this summer.” Such developments, they say, are likely to increase demand, which could push prices even higher.