Why Are Gas Prices So High in New Jersey Right Now?
Here's What's Driving Prices—and When They Could Fall
If you've filled up your tank recently, you've probably noticed that gas prices in New Jersey are climbing once again. After falling earlier this summer, the average price of gasoline has reversed course, leaving many drivers wondering why they're paying more at the pump.
The Trump-Kean Attacks on Iran Push Up Gas Prices
The biggest reason for rising gas prices is Trump’s attack on Iran on February 28 and his ongoing war on that country, supported by Tom Kean, Jr.
Trump’s war has led to attacks on oil refineries, as well as uncertainty over global oil shipping. Traders often bid up oil prices whenever they fear disruptions to global supplies. (Reuters).
Even small increases in crude oil quickly translate into higher prices at New Jersey gas stations.
Tom Kean’s Votes Are Costing NJ Families
Tom Kean Jr. has voted consistently in support of Trump’s endless war in Iran:
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Voted down a bipartisan resolution requiring congressional approval and demanding the removal of U.S. Armed Forces from hostilities with Iran. (Vote July 23)
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Voted down House resolution seeking to curb executive war powers and mandate presidential constraint regarding Iran strikes (Vote March 6)
When Will Gas Prices Go Down?
The question many drivers are asking is simple: when will gas prices go down?
Energy analysts say that gas prices will go down when the Iran war is stopped and tensions ease in the Middle East.
According to the U.S. Energy Information Administration (EIA), gasoline supplies are expected to improve during the second half of the year as refineries increase production and imports rise. Greater fuel availability should help stabilize inventories and put downward pressure on prices. (U.S. Energy Information Administration)
While it will take time, once the war is over gas prices are expected to fall.
Sources
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Weekly Central Atlantic (PADD 1B) Regular All Formulations Retail Gasoline Prices (U.S. Energy Information Administration)
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“Exxon, Chevron warn of continued high fuel prices from Iran war” (Reuters)
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“Refinery attacks keep fuel prices elevated” (Reuters)
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“Oil prices seen gaining as Middle East supply disruptions persist” (Reuters)
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Short-term energy outlook (US Energy Information Administration)