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Gas Crunch Special report:
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Gas prices hit all-time high

Motorist group survey says nationwide pump prices reach a fresh record as crude keeps cruising; California and Hawaii pay the most.

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NEW YORK (CNNMoney.com) -- The price of gasoline rose to an all-time high Wednesday, according to the widely followed survey conducted for the motorist group AAA.

The average price of regular rose overnight to $3.246 a gallon, according to AAA's Web site. That's nearly 2 cents higher than the previous record of $3.227, which was first set last May and matched Tuesday.

Regular was $2.953 on average at this time last month and $2.543 a year ago.

Hawaii and California fetched the highest prices at the pump, as consumers had to shell out an average of $3.61 and $3.59 respectively for a gallon of gas. But New Jersey and Missouri drivers found gas prices to be nearly 60 cents a gallon cheaper, paying $3.02 and $3.04 respectively.

When adjusted for inflation, gas prices are still below their peak. The record on that basis was $3.405 and set in March 1981, according to the Energy Information Administration.

The fuel price survey was conducted for AAA by Oil Price Information Service. To top of page

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