Fuel prices rise in New Jersey and North Carolina

Gasoline and diesel prices are rising across several U.S. regions, including New Jersey and North Carolina. In New Jersey, the average price for regular gasoline reached $4.42 per gallon, a 45-cent increase from last month. Diesel is also seeing significant spikes, with analysts warning of potential further increases.

In North Carolina, the statewide average for regular unleaded rose to approximately $4.12 per gallon, following a weekly increase of nearly 22 cents. Diesel prices in the state have surpassed $6.00 per gallon for the first time, reaching a statewide average of $6.09.

Experts attribute these rising costs to global supply constraints. Key factors include the conflict in Iran affecting traffic through the Strait of Hormuz, a drone strike that shut down a major oil pipeline in Saudi Arabia, and the ongoing Russia-Ukraine war. These disruptions have contributed to oil climbing to $108 a barrel. Analysts suggest that the rising cost of diesel may have rippling effects on the economy, as it increases transportation costs for retail goods, shipping, and agriculture.