Gas prices strike all-time high

Average price of regular unleaded rises to record $3.287 a gallon, according to AAA survey.

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)

Photos
America's Money: In their own words America's Money: In their own words America's Money: In their own words
Everyday folks tell their stories about hard economic times. Check back frequently for new stories.

NEW YORK(CNNMoney.com) -- Average gasoline prices have hit another all-time high, according to a survey conducted for motorist organization AAA.

The average price of regular rose to $3.287 a gallon, up from $3.286 the previous day, according to the AAA Web site.

The price averaged $3.165 a month ago. A year ago, American drivers were paying $2.673, according to AAA.

Motorists in Hawaii paid the most for gas, averaging $3.647 a gallon. New Jersey drivers paid the least, with a statewide average of $3.045 a gallon, according to the survey.

Analysts say surging crude prices are largely to blame for pricey gas. Crude topped $100 a barrel in early 2008, and has traded above $100 for most of the year.

While gasoline prices have hit record highs well before the start of the summer driving season, most analysts expect prices to peak relatively early - somewhere between $3.30 and $3.80 a gallon - and then decline during the second half of the spring as a slowing economy crimps demand.

The AAA survey, updated daily, tracks prices at roughly 80,000 service stations across the country. It is conducted for the group 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:
Getty family known for its wealth and misfortunes The Getty family may be as famous for its fortune as the misfortune that has dogged its name for years. Here is a brief history of the players in the tumultuous Getty saga. More
The 32 best April Fools' Day gags of 2015 April Fools' Day is here, which means that businesses around the world are letting their guard down. More
World's worst cities for rush hour traffic So you thought your city had the worst rush hour traffic in the world? More