Gas prices surge across Pa., N.J., Del. as oil market tightens

Gas prices climb, local businesses and drivers adjust routines

As gas prices continue to rise, analysts warn prices could approach $5.00 per gallon as summer travel season begins.

PENNSYLVANIA - Gas prices are climbing across the region, with drivers in New Jersey, Pennsylvania and Delaware seeing sharp increases this week, according to AAA.

By the numbers:

The average price per gallon of unleaded fuel has reached $4.22 in New Jersey, $4.32 in Pennsylvania and $4.15 in Delaware, marking the highest levels in roughly four years.

Dig deeper:

Energy analysts say the spike is being driven by rising global oil prices and continued uncertainty in key geopolitical regions, including tensions tied to the Strait of Hormuz.

Despite ongoing discussions involving the United States and Iran, there has been little impact on stabilizing oil markets, and prices have continued to move upward.

What they're saying:

The increase is being felt beyond everyday commuters.

Small business owners who spoke with FOX 29 and rely heavily on transportation, including landscaping and pest control companies, report rising fuel costs that are cutting into profits or forcing price increases for customers. 

Some businesses in the area say they are now actively reorganizing routes and reducing unnecessary travel to save on fuel.

Taxi drivers and other commercial operators are also struggling, as higher fuel costs directly reduce already thin margins. Several drivers reported to FOX 29 that they are unable to raise fares in step with gasoline increases, leading to declining earnings. 

At local gas stations, prices have jumped overnight in some areas, adding to frustration among drivers who told FOX 29 they are adjusting daily routines, consolidating errands and cutting back on travel.

What's next:

Analysts warn that volatility in the oil market could continue into the summer travel season, with some projections suggesting gasoline prices could approach $5 per gallon if current trends persist.