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Gas prices pass $2.07, another high
AAA says prices at the pump keep rising although crude has eased from its record high.
March 21, 2005: 8:31 AM EST

NEW YORK (CNN/Money) - Gasoline prices continued to charge into uncharted territory, hitting another record high Monday despite crude falling from all-time peaks, according to an AAA survey.

The average price of a gallon of regular unleaded gas rose to $2.072, according to AAA, the largest U.S. motorist organization formerly known as the American Automobile Association.

Gasoline prices have followed the rise in crude prices. Friday, the average price of a gallon of regular was $2.061, also a new record, as was the $2.055 a gallon reached Tuesday.

The previous high reached before the latest run-up was $2.054, notched May 26, 2004, according to AAA.

While Monday's price set a new record at the pump, when adjusted for inflation the highest price for gasoline would be the equivalent of more than $3 a gallon in the spring of 1981, Reuters said, citing the Department of Energy.

For the latest in oil prices, click here.  Top of page

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