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The Week
Since Monday, gasoline prices in New Jersey, Pennsylvania and Delaware have stayed within a penny. As hundreds of thousands of tri-state area residents take to the roads for the Memorial Day holiday, drivers should have little problem finding gasoline, but will be paying about $1 more than they did during the holiday last year. According to new data from the Energy Information Administration (EIA), gas demand increased last week, which will likely contribute to fluctuations in pump prices through the holiday weekend, particularly as 94% of holiday travelers will do so by car.
Today’s national gas price average is $3.04, unchanged from one week ago, 16 cents higher than one month ago and $1.08 more than one year ago.
CURRENT AND PAST GAS PRICE AVERAGES
Regular Unleaded Gasoline (*indicates record high)
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05/28/21
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Week Ago
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Year Ago
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National
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$3.04
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$2.88
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$1.96
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New Jersey
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$3.05
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$2.91
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$2.02
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Trenton
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$3.11
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$3.13
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$2.04
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Cape May County
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$3.05
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$3.06
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$2.00
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Burlington
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$3.04
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$3.05
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$1.96
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Middlesex, Somerset, Hunterdon Counties
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$3.06
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$2.93
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$2.06
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Monmouth, Ocean Counties
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$3.06
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$3.06
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$2.05
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Crude Oil
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$66.32 per barrel (05/28/21)
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$63.58 per barrel (5/21/21)
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$35.49per barrel (5/29/20)
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At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $66.32 per barrel, $2.74 higher than last Friday’s close. Crude prices have stayed above $66 all week, supported by positive U.S. economic data noting strong labor market numbers and stronger demand for crude and gasoline.
The Weekend
“More than 909,000 New Jersey residents will be traveling for the Memorial Day holiday, a jump of about 61% over last year,” said Tracy E. Noble, Manager of Public and Government Affairs for AAA Mid-Atlantic. “Gas prices locally and nationally are expected to fluctuate through the weekend as 94% of those traveling this holiday weekend will be doing so by car, which could drive up gas demand.”
AAA has a variety of resources to help motorists save on fuel:
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