Gas Prices on the Rise Due to Summer Demands, Iran Sanctions

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Gas prices are on the rise following the Fourth of July holiday.

AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday, July 6th, was $2.90, up three cents from last week.

Drivers were paying just $2.29 a gallon for gas in New Jersey at this time last year.

Analysts say drivers should prepare for possible higher prices in coming weeks due to a shrinking global crude oil supply, continuing high demand in the summer driving season, and sanctions on Iran creating an unpredictable market.


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