TRENTON, NJ – In the New Jersey state capital city of Trenton, on Friday, gas prices spiked over $4 per gallon, reaching as high as $4.07 at some stations. Across New Jersey this week, after being told by President Joe Biden “We’re going to be OK”, we’re not. Prices in most towns spike 20 to 25 cents in the past seven days for gasoline.
We’re not going to be ok. Now, with Congress calling to block Russian imports of gasoline, prices are expected to climb even more.
In Ocean County, several stations are avoiding the $4 mark with gas being sold for $3.99 per gallon. While many stations in the area are in the $3.70 range, others have already marked up their prices today according to Gas Buddy, ranging from $3.90 to $3.99 per gallon.
A regular fillup on a twenty-gallon tank is going to run you $80 this weekend here in Jersey. It’s not stopping there.
Analysts predict that as the Ukraine war with Russia intensifies and more sanctions are placed on Russia, prices will climb to $5 per gallon in a couple of weeks.
Calls have been made in New Jersey for Governor Phil Murphy to suspend the gas tax to alleviate the sticker shock at the pump. Jose Arango, a top-ranking NJ GOP official called on Murphy two weeks ago to suspend the 42 cents per gallon gas tax. That plea fell on deaf ears.
There have also been calls for President Joe Biden to suspend the federal gas tax of 18 cents per gallon, but the President has not indicated that was in his plans. Combined, New Jersey drivers are paying 60 cents per gallon in taxes to the state and federal government.
Suspending the gas taxes would provide residents with much-needed financial relief at the pump.