Gas Prices Rise Again; Seven Year Price High

The national average for gasoline on Oct. 20 was $3.357 a gallon, according to AAA.com. This marks yet another week where gas prices have risen.

Depending on your location, gas prices will vary. Here in New Jersey, the gas average is about $3.40 and in Ocean County, the average is estimated at $3.41 according to AAA.com.

The price for a barrel is about $80 CNBC said. States like California and cities like Manhattan are approaching $5 a gallon and it doesn’t seem there will be a stopping point soon. 

There is a global energy crisis due to supply and demand. Concerns over the climate and trying to move off from fossil fuels and a pandemic that stalled oil production led the world into a shortage, not enough supply, and high demand.

The gas price rise can be attributed to the banks pulling away from financing and shareholders not investing in oil, the NY times said. 

With gas prices on the rise, here are a few tips to try and save some money at the pump.

• Use a rewards credit card to earn points on gas, some company’s offer 3% and sometimes 5% on gas depending on the rules. 
• Check out Wawa’s October promotion to save 15c/gal using the Wawa app, this has personally saved my car a few bucks.
• Gasbuddy is a great place to find the cheapest gas prices in your area.
• Drive slower and avoid rapid acceleration, this can reduce gas consumption.