Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Gas Crunch Special report:
Gas Crunch +Full coverage

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.

EMAIL  |   PRINT  |   SHARE  |   RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)

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

Features
They're hiring!These Fortune 100 employers have at least 350 openings each. What are they looking for in a new hire? More
If the Fortune 500 were a country...It would be the world's second-biggest economy. See how big companies' sales stack up against GDP over the past decade. More
Sponsored By:
Here's what costs more than a barrel of oil Oil prices have crashed to below $27 a gallon -- a level not seen since 2003 -- which makes a barrel of crude cheaper than lots of everyday purchases that we don't think twice about. More
Super Bowl 50 ads are studded with celebrities The 2016 Super Bowl has rolled out the red carpet for the likes of Helen Mirren, Amy Schumer, Seth Rogen, Steven Tyler and the late, great Marilyn Monroe. More
The women of marijuana These women entrepreneurs and executives are making their mark in the marijuana industry. More