NJ Gas Prices Up Again

Motorists are seeing sharply higher prices at the pumps in New Jersey.

AAA Mid-Atlantic says the average price of regular gasoline in New Jersey on Friday was $3.46, up 11 cents from last week. But that's still less than the price from a year ago, when motorists were paying $3.66.

Meanwhile, the national average price rose 6 cents to $3.45. But that's lower than the national average from a year ago, which was $3.68.

This marks the third straight week that gas prices have increased in New Jersey.

Analysts say the higher prices are mostly due to rising crude oil prices, spurred upward by better than expected global economic concerns and simmering tensions in the Middle East.

Prices are not expected to drop again until after Labor Day. Tom Kloza, chief oil analyst for Oil Price Information Service (OPIS)  and AAA partner, expects gasoline prices to range between $3.30 and $3.50 per gallon from now until Labor Day as consumer demand declines with the end of the summer driving season.