New Data Shows Skyrocketing Gas Prices Devastating NJ Families And Small Businesses

New Data Shows Skyrocketing Gas Prices Devastating NJ Families And Small Businesses

Prices Jumped 11 cents in One Week, 30 Percent for the Year - Menendez Releases Energy Plan to Ease Gas Price Burden

New Jersey - Gas prices are pumping New Jersey families and small businesses dry, according to new gas price data released today by US Senator Robert Menendez (D - New Jersey). Gas prices have risen 11 cents in the last week alone. Menendez today proposed a series of steps to help lower gas prices, prevent a setback in the nation's economic recovery, and promote the United State's long-term energy security.

The average price for a gallon of gas in New Jersey is currently $3.38, according to the AAA. That's up more than 35 cents over prices just one month ago. With the highest recorded average price at $3.99 (7/2008), many experts believe we could be in record territory come summer.

SKYROCKING GAS PRICES IN NEW JERSEY

  • Atlantic-Cape May: Gas is up 30% for the year, from $2.61 to $3.38
  • Bergen-Passaic: Prices have jumped 34 cents in the last month.
  • Middlesex-Somerset-Hunterdon: In the last week, gas prices have risen 3 percent, to $3.40
  • Monmouth: Residents are paying $3.37 for a gallon of gas, up 35 cents from last month.
  • Newark: Prices are up 11 percent over last month to $3.40.
  • Trenton: The highest average price of gas at $3.42, up from $2.64 a year ago.

(Source: AAA)

Senator Menendez said, "New Jersey families and small businesses are taking it on the chin. Doing nothing is not an option for families, and it isn't an option for me. Only these measures will truly help stabilize gas prices, prevent a setback in the nation's economic recovery, and promote our nation's energy security in the long run."

MENENDEZ PLAN TO TACKLE RISING GAS PRICES

  • Release 50 Million Barrels of Oil from the Strategic Petroleum to help lower prices: Menendez urges President Obama to invest the profits raised from selling the reserves to reduce the deficit and invest in strategies to further lower gas prices.
  • Increase Incentives for the Adoption of Natural Gas Vehicles: Menendez will reintroduce the NAT GAS Act to support the use of natural gas as a transportation fuel.
  • Accelerate Electric Vehicle Deployment: Menendez supports legislation that would increase incentives for electric vehicle purchases, promote deployment of charging infrastructure, help coordinate and develop model electric vehicle communities, provide technical assistance to communities to plan for electrification, and increase electric vehicle research.
  • Keep American Oil in America: More than 2.5 million barrels of U.S.-produced crude oil and petroleum products are sent abroad each day. This legislation keeps that oil supply here at home, not sent to the other side of the world.
  • End Billions in Tax Breaks for Big Oil: This legislation would repeal numerous taxpayer giveaways and save taxpayers over $17 billion over the next 5 years. These funds can be used to pay for efforts to reduce fuel prices and lower the deficit


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