After OPEC said last weekend that it plans to cut production by more than a million barrels a day beginning in a month, gas prices in New Jersey and across the country went up.
The average price of a gallon of regular gas in New Jersey was $3.36 on Friday, which is 11 cents more than it was last week. A year ago at this time, the average price per gallon was $4.13.
The price of a gallon of regular gas in South Jersey has gone up by 15 cents since last week
Drivers in Philadelphia and the suburbs around it now pay 13 cents more per gallon than they did a week ago.
And the average price for a gallon of gas in Delaware is now $3.48, which is up 12 cents.
The average price of a gallon of regular gas across the country was $3.58, which was up eight cents from the week before. A year ago at this time, the average price per gallon was $4.15.
Analysts say that the oil market has had a few days to think about what OPEC said, and prices have stabilized for now. However, “drivers may not get a break at the pump any time soon” because oil costs more than half of what consumers pay for gasoline.