Cheap gas on the New Jersey Turnpike, but not for long
Gas prices continue to set record highs across New Jersey and the state average will surpass $5 per gallon this week.
AAA puts the average for regular at $4.98 as of Monday morning. That is up three pennies since Sunday.
Mercer, Somerset, Essex, Morris and Cape May counties are already averaging over $5 per gallon.
After pausing for about a week before Memorial Day, pump prices have resumed a steady rise of one to three cents per day.
Today's prices reflect an increase of 22-cents in a week and 61-cents in a month. A year ago we were paying $3.06 a gallon for regular.
Demand for gas and rising oil prices are combining to cause the daily increases, but will demand start dropping?
A poll of drivers by AAA showed most not planning to change summer vacation plans unless gas hit the $5 mark.
Many analysts do not see a slowdown anytime soon.
In terms of what we are spending, Patrick De Haan of GasBuddy.com says Americans are spending $1.82 billion on gasoline every 24-hours. That's an increase of $94 million in just a week.
If you want to save some money on your fill-up, you may want to hit a rest stop on the New Jersey Turnpike or Garden State Parkway. Prices will be changing this week, but for now a gallon of regular is $4.88. That's the lowest price currently in New Jersey.