Contact Us
Make My Homepage

Gas Prices Rise At The Pump Again [AUDIO]

Gas prices are up again about 20-cents-a-gallon in Jersey in a month. So where are we headed?

Justin Sullivan, Getty Images

Tom Kloza of the Oil Price Information Service says renewed confidence in the world economy has prompted investors to put some of their money back into crude oil, driving up gasoline to an average of about$3.40 a-gallon right now. He says we are seeing prices move higher mostly because there is expectations that maybe the world economy isn’t going to fall off a cliff.

Where are New Jersey’s lowest gas prices?

Lowest Gas Prices in New Jersey
New Jersey Gas Prices provided by GasBuddy.com

Kloza says, “It is certainly not demand-related in the United States because demand for gasoline is probably off by about 4 percent or so from last year.”

He believes we may go above $3.50, but after Labor Day, we are likely to see prices about as low as they have been in the last ten months or so.

Kloza says, “It’s really because prices always drop, or almost always drop, between Labor Day and the middle of November.”

He still describes the price rise as,’tentative’,

“I don’t think there’s necessarily real active faith there.”

And there’s some fear that once September comes, a couple of things could happen: “Number one, we are going to get these “days of reckoning”, let’s say for European sovereigns.

Number two, We are going to see lower gas demand and we are going to see more ability to make gasoline.

But he also cautions more European economic trouble or hurricanes that close refineries could throw the whole, “lower prices in the Fall”, schedule out of whack.

According to Kloza, “it’s not very exciting. It’s kind of like watching one of those Olympic Badminton matches right now.”

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Best of the Web


Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://nj1015.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here.

Sign up for an account to comment, share your thoughts, and earn points to get great prizes.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!