New Jersey gas prices shot up more than 9 cents a gallon over the past week. According to AAA, the average price for a gallon of regular gasoline in the Garden State is just under $3.45. That’s about a $1.20 higher than what we were all paying a year ago. The price of premium gas is now approaching $4 a gallon. While the gas tax was recently lowered in New Jersey, we’re not seeing any benefit because there’s been a spike in gasoline demand as more people began commuting again, traveling and just going out more. And higher demand is leading to higher gas prices because there’s not enough supply. Oil producers cut back production during the worst of the pandemic. Steve Cronin, a journalist with Oil Price Information Service of IHS Markit, explains why he expects gas prices — already at seven-year highs — to remain high through next year.
Business groups are asking the White House to delay its planned vaccine mandate for businesses until after the holidays. Groups have been meeting with administration officials to share their concerns. They fear the mandate will lead to worker resignations and say that will only make their staffing and supply chain problems even worse.
The New Jersey Economic Development Authority is taking applications for grants to help small businesses cover their annual lease payments for street-level space, if they meet certain qualifications. The Small Business Lease Grant program is designed to revitalize downtowns and main streets. The state has set aside $10 million for the program and is accepting applications on a rolling basis until funding runs out.
