By: Richard L. Smith
Like many New Jersey residents looking to squeeze in one final summer getaway, I’m thinking about keeping things local this Labor Day weekend and taking a ride down to the Jersey Shore.
But before getting anywhere near the Parkway, there’s one thing that’s becoming increasingly difficult to ignore: the price at the pump.
Here in Harrison, I noticed regular gas at a neighborhood station had climbed to about $4.15 a gallon, a few cents higher than what I had seen just days earlier.
And it’s certainly not just my neighborhood.
According to AAA, New Jersey motorists are now paying an average of about $4.25 for a gallon of regular gasoline. In the Newark area, the average is even higher at approximately $4.29 per gallon.
For families packing up the car and heading to Point Pleasant, Seaside Heights, Wildwood, Atlantic City or another favorite Jersey destination, those higher prices will add another expense to the unofficial final weekend of summer.
And staying closer to home may be what many of us decide to do. For me, a trip down the Shore makes more sense than putting hundreds of additional miles on the car, and I suspect plenty of other New Jersey families may be weighing the same options.
The increase at the pump has come quickly.
AAA figures show New Jersey’s statewide average was about $4.05 a gallon just one week ago, meaning motorists are paying roughly 20 cents more per gallon in only seven days. In the Newark area, regular gasoline averaged around $3.17 a gallon at this time last year.
The situation is also making this an unusually expensive Labor Day nationally. AAA reports that the national average is around $4.14 per gallon, putting the country on track to enter Labor Day with gasoline above $4 a gallon for the first time. 
The previous Labor Day record was $3.82 per gallon in 2012.
So, what’s driving the sudden increase?
A major factor is the price of crude oil and instability in the Middle East. AAA has pointed to volatility surrounding the Strait of Hormuz as crude prices moved into the $90-per-barrel range.
Reuters also reported Friday that escalating tensions between the United States and Iran have increased concerns about possible disruptions to Middle Eastern oil supplies.
Those fears have helped push oil prices higher as traders watch developments involving one of the world’s most important oil-shipping routes.
When crude oil becomes more expensive, those increases can eventually work their way through refineries and distributors before showing up on the large price signs outside our neighborhood gas stations.
So whether your Labor Day plans include a drive down the Garden State Parkway, a weekend in Atlantic City or simply visiting family somewhere around New Jersey, it might be worth budgeting a little extra for gasoline.
As for me, I’m still thinking about that ride down the Shore. Sometimes staying close to home isn’t such a bad idea; especially when New Jersey already has plenty of places to enjoy one last taste of summer.