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Election Results and their Consequences, Lukoil Sale

November 6, 2025

Election Breakdown

After much anticipation and speculation, the election results are in and just like 4 years ago, the polls were wrong—but this time they were wrong in favor of the Democrats rather than the Republicans. Democrat Mikie Sherrill leads Republican Jack Ciattarelli 56%-43%, a 13% margin that is well above almost every public poll, which averaged a 4% lead for her. 

Despite all the energy on the ground for Ciattarelli, and the seeming lack for Sherrill, it appears that there were a significant number of Democratic voters angry about the first year of the Trump Administration and looking for the opportunity to vote against the first Republican they could find. Democrats heavily campaigned against Trump, and widely circulated Jack’s answer at the debate saying he graded the first year of the Administration an “A” with little to no disagreements. His campaign, and Republicans across the state, had privately said their general election strategy was all about turning out Trump voters who would otherwise sit out an election for governor completely, and letting “persuasion” of independent voters mostly take care of itself. This seemed a risky strategy for the minority party in a state that Trump lost all three times. No doubt, staying close to the President did increase Republican turnout, the problem is it seems to have increased Democratic turnout even more.

As of the current count (which is close to final, almost all mail ballots have been counted), Jack earned just under 1.4 million votes, which is 130,000 more votes than he won 4 years ago, and more votes than Phil Murphy was elected with. The problem is that Sherrill brought out 467,000 more voters than Murphy did. More people voted for Jack in 20 out of 21 counties compared with 4 years ago, but even more people voted for Sherrill than for Murphy in every county, and her gains outnumbered his in every county except Ocean. As a result, overall voter turnout surged from 40% in 2021 (and just 37% in 2017) to over 48% this week. 

Since Trump became the standard-bearer for the Republican Party a decade ago, both New Jersey and the country have seen shifting political coalitions. Areas with a large population of non-college educated white voters have been voting Republican more heavily, while suburban areas with higher incomes and large numbers of college voters have moved away from the Republicans and started voting for Democrats up and down the ticket. In 2021, Ciattarelli performed much better than Trump in these historically Republican areas, but he lost the election in part because Murphy ran up huge margins in urban areas like Hudson County. But in 2024, after the massive increase in inflation of the Biden years, Trump saw huge gains in these urban areas, particularly among Hispanic voters—closing the gap in Hudson by 18%, in Passaic County by 19%, and in Middlesex by 14%. 

The theory for a Jack victory was that he would win statewide by keeping or expanding his strength in the suburbs plus benefit from the gains Trump saw in urban areas. The final results show the opposite happened—the significant ground Republicans gained last year disappeared almost entirely, while Sherrill made double-digit gains across the suburbs. It also looks like the closeness of the 2021 election was more about how specifically unpopular Governor Murphy was after the covid shutdowns and Biden’s first year in office, which kept many Democratic voters home. Sherrill, as a fresh face, was less objectionable and easier for Dem-leaning voters to come out for, especially when they’re mad about the first year of the Trump Administration and the impact of the government shutdown. 

Sherrill’s surge also led to the even further expansion of the Democratic majority in the state General Assembly. Going into the night, Republicans reasonably expected that even if Jack lost they would still likely flip 3 seats and hold all of their own. Instead, Democrats reelected all of their members, and have definitely defeated 3 Republicans—Mike Torrissi (Burlington-Atlantic, and owner of the Torrissi fuel trucking business), as well Nancy Munoz and Michele Matsikoudis from Union County. Democrats also narrowly lead Christian Barranco in Morris County and Claire Swift in Atlantic County, two seats that were seen as unlikely to even be competitive this year. The final outcome will be determined over the next two weeks. Another four Republicans (Don Guardian in Atlantic, Aura Dunn in Morris, Bob Auth and John Azzariti from Bergen) have only narrowly survived. 

The new Democratic majority in the Assembly will be between 55 and 57 seats, with Republicans down to just 23-25 seats. Democrats will have a veto-proof two-thirds majority, and the largest majority they’ve had since the Watergate election of 1973. The state Senate was not on the ballot and remains a 25-15 Democratic majority. Craig Coughlin (D-Middlesex), already the longest serving Speaker ever, is expected to lead the chamber for another two years. 

Election Implications for Business

Jack Ciattarelli explicitly campaigned as a desperately-needed friend to the business community in the state. While Mikie Sherrill did not, she also did not campaign as a candidate of the left flank of her party the way Phil Murphy did 8 years ago. In fact, she beat out three more explicitly leftist candidates in the Democratic primary in June. She has spoken positively about small businesses and expressed a desire to cut red tape and make state government function better. We will certainly be reaching out to her with ideas on how to improve the State’s performance, especially as it relates to DEP and MVC. 

She talked to the press yesterday, saying that she feels she has a mandate, “a big one.” In terms of immediate policies, her biggest idea is a freeze on utility rates. On the one hand, stopping further utility rate increases would be good for businesses, on the other it may not be legal, and even if it is, it would likely discourage utility companies from investing in much-needed new power generation. She also wants to target big pharmacy benefits managers, which could lower the cost of prescription drugs, which are themselves the main driver in the across the board surge in health insurance costs. She also mentioned forcing consolidation among the 600 different school districts in this state, which is one of the few things the state government could do to bring down property taxes across the board. 

Taxes will be a topic to watch. She campaigned heavily on “affordability” which would hopefully preclude further increases in most taxes, and she explicitly ruled out a sales tax increase which had been rumored to be on the table in the near future. The growing budget problems the state has may lead to further income tax increases on income above a certain level, something Ciattarelli would have certainly vetoed. 

For NJGCA issues, the biggest problem she has is the EV mandate. She was deliberately silent on the issue throughout the campaign, not explicitly endorsing it but also avoiding numerous opportunities to come out against it. When the vote came up in Congress to kill the California mandate that NJ had opted into, she joined almost all Democrats in voting against it. However, the passage of that resolution also prevents that mandate from being put into effect unless a future Congress and President authorizes it, the chances of which are near zero for the next four years at least. 

Some proposals we support, including Right to Repair, a return of safety inspections, credit card swipe fee reform, and even self-serve may actually have a better chance of being signed into law by her than a Republican governor. 

Mikie Sherrill becomes governor, and Phil Murphy leaves office, at Noon on January 20, 2026 (75 days away).

This also marks the start of the “lame duck” session of the Legislature, where they will be racing to push through legislation before their session expires on January 13th. Every bill not on the Governor’s desk by that date must start the process over again. It’s also a time when some people try to shove through ideas when they think people aren’t looking. 

There are a variety of bad bills we are monitoring to fight against, including the heat stress standards bill that would mandate paid breaks every two hours for every employee inside or outside who experiences 80 degree heat. 

Out of necessity, we have worked hard here at NJGCA to establish a presence in Trenton with good relationships among members of both parties so that however these elections went, we can fight against bad bills and for ones that will help your business.

Almost every candidate who received a contribution from the NJGCA PAC was reelected. Thank you again to all those who stepped up and supported us. You can donate by filling out this form and mailing us a check. 

LUKOIL Update

In response to the new sanctions from the US Treasury, Lukoil has confirmed that it plans to sell all of its overseas assets, including all of its stations in the US, to a Swiss energy trading company called Gunvor. The company has no experience in retail, so it’s not clear at all what their plans are in the US. We have been in touch with a number of people on the issue, and it is looking like Lukoil dealers are entitled to the Right of First Refusal to buy their stations at fair market value as part of this transaction. The international sanctions dimension, and the short timetable being forced on it, may make exercising this right more of a challenge than it should be. 

We are concerned about the current and future impact of the recently announced sanctions on Lukoil and their impact on small business operators here in the USA. Almost all the retail locations (about 120 in NJ) are operated by small business franchisees. They don’t get to choose to be a Lukoil station the way other station owners can, in virtually all cases Lukoil North America either owns the property or controls the lease, so if a dealer wanted another brand, they would have to walk away entirely from the location they’ve built up. In many cases, these operators signed up to be Mobil or Getty stations and then were sold in bulk to Lukoil many years ago.

Furthermore, it is our understanding that all the motor fuel sold at these locations is sourced from domestic US suppliers, not Russian oil, as well as that proceeds from the business are banned from being sent to Russia already.

Although the US Treasury has explicitly granted permission for business to continue at all Lukoil retail operations, some suppliers, vendors, and service providers are misinterpreting the recent news in ways that are doing more than hurting these small businesses and their customers. Our staff and Board of Directors members have been in regular contact with dealers across the region concerned that they may be unfairly and unnecessarily forced to close. We encourage all vendors to continue to work with Lukoil dealers and ensure that these small businesses can continue to operate and serve their communities. 

Finally, we are planning imminently for a meeting for Lukoil dealers to discuss their situation with each other. Please complete this survey HERE if you haven’t to ensure we have your contact info if you are a Lukoil dealer. If you’re not but know a Lukoil dealer please send them the link! 

Station for Sale

Location:
777 Hamburg Turnpike
Pompton Lakes, NJ 07442

Station features: 

  • Corner location with four 6,000 gallon tanks (double wall fiberglass)
  • Tanks were installed in 1998.
  • 70,000 gallons of gasoline sales per month.
  • Busy 2 Bay Garage, with small C-Store.

Interested in learning more? 

Contact Steve Hamparsumian with inquires! 
Cell: 201-832-5885 
Email: Steveabbcnj@gmail.com

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Rack Averages

Date Rack Avg Avg w Taxes Low Rack
10/30 201.52 $2.6482 195.15
10/31 201.24 $2.6454 193.25
11/03 199.51 $2.6281 191.56
11/04 199.84 $2.6314 191.56
11/05 199.10 $2.6240 190.48
Date Avg Retail Avg Margin Diesel Rack Avg
10/30 $2.96 0.34 251.87
10/31 $2.96 0.31 249.84
11/03 $2.98 0.34 250.32
11/04 $2.99 0.36 253.95
11/05 $2.99 0.36 252.69

News Worth Knowing:

Member Benefit Partner (MBP) Spotlight: Association Member Trust (AMT)

Association Member Trust… More Options. More Health. NJGCA in partnership with Association Member Trust (AMT) can help you manage the ever-increasing cost of Healthcare Coverage.

How AMT Works for You: When member businesses of the NJGCA join AMT, they get superior value and service from a self-funded, not-for-profit Benefits Trust that serves the needs of thousands of participating employer members. AMT’s plans are designed to give small businesses more options with better service at lower cost. Healthcare consumers should expect and get more, so we put our profits into improving our plans, and, when possible, we pay dividends.

Why Become an AMT Member? NJGCA members receive: • The largest selection of competitively priced, self-funded health coverage plan options • Access to the provider networks of Horizon Blue Cross Blue Shield of NJ and Delta Dental of NJ. • Dedicated service people who help you with plan selection, service and claims. 

Request an Online Quote Visit www.amt-nj.com and click on “Request a Quote.” Our easy form will automatically generate several plan options for your review. Our representatives can advise you on selecting the right plan for your needs.

Contact: Marta DiGesu Phone: 973-379-1090 x246 EmailMDigesu@amt-nj.com  Website: www.amt-nj.com 

Our Road Warrior newsletter is brought to you by the following Member Benefit Partners:

New Jersey Gasoline, Convenience, Automotive Association
615 Hope Road, Bldg. 2, 1st Floor
Eatontown, New Jersey 07724

 

Phone: 732-256-9646
eMail: info@njgca.org

Written by Executive Director Eric Blomgren and Director of Member Services Nick De Palma


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