New Jersey gas prices rise as Middle East tensions push oil higher

Average gasoline prices in New Jersey climbed to $4.17‑$4.18 per gallon in late July, with the national average reaching $4.11, the highest levels since July 2022. The increase follows a sharp rise in crude oil prices, which have moved above $90 a barrel.

The surge is linked to renewed volatility in the Strait of Hormuz after the United States conducted airstrikes on Iran and Iran responded with attacks on U.S. allies in the region. The instability threatens the flow of roughly a fifth of the world’s oil supply, prompting analysts at the American Automobile Association to warn that fuel costs could stay elevated through the second half of summer.