With crude oil prices up 100% over last year, gas prices on the rise around nation

Updated: Oct 16, 2021 / 11:40 PM CDT

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TRENTON, N.J. (AP) — Gas prices have jumped up again across the nation, due in large part to high crude oil prices, analysts said.

AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $3.31, up six cents from a week ago. Drivers were paying an average of $2.24 a gallon a year ago at this time.

The national average price for a gallon of regular gasoline was $3.30, up four cents from last week. Drivers were paying $2.17 a gallon on average a year ago at this time.

Analysts say the price of crude oil, which typically accounts for 50 to 60 percent of the price at the pump, closed above $80 per barrel this week for the first time since 2014 — and that is twice what it was at this time last year.