Getting Gas In New Jersey Really Stinks? Don’t Hold Back.
It’s not just me right, you’ve noticed gas prices on the rise too? The cynic in me says, “well sure they are, it’s summertime”. Factor in the price of crude oil, supply and demand during the summer months, and the different blend of gasoline prepared for the hotter climate. Another layer to that math, is the increase of vehicles on the road in New Jersey, now that our state has opened up in this next chapter of covid19. As the vaccination efforts continue, residents are feeling more comfortable taking road trips and family vacations. More cars on the road, more demand for gasoline equals higher prices. Let’s also not forget about the state gas tax. At one time New Jersey was considered to have the lowest in the nation, “now we are the 4th highest”, according to Republican state Sen. Kip Bateman.
That gas tax we New Jersians pay, has increased over the past 5 years by 36 cents. The way the tax works is for every dollar, 50 cents get collected by the state. According to the 2016 gasoline tax law, that money collected is funding the Transportation Trust Fund.
Still, we are nowhere near the price of gas a few years ago where gas prices soared over $4 a gallon. Not just nationally but locally as well. The average price for regular unleaded gasoline in New Jersey is $3.00 a gallon. According to AAA, that price tag is a little more than half a dollar more than last June.